Key facts
- Six U.S. federal agencies must finalize stablecoin rules within 35 days under the GENIUS Act.
- The rules will focus on anti-money laundering (AML) compliance, issuer licensing, and reserve requirements.
- Proposed rules require stablecoin issuers to implement customer identification programs similar to banks under the Bank Secrecy Act.
- The GENIUS Act is the first major federal law in the U.S. to set clear rules for stablecoin issuers.
- The proposed rule will be open to public comment for 60 days after filing.
Six U.S. federal agencies are operating under a 35-day deadline to finalize new rules for stablecoin issuers, as mandated by the recently enacted GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act). This legislation, signed into law in July 2025, establishes the first significant federal framework for stablecoins in the United States.
The proposed rules, which will be open for public comment for 60 days after filing, aim to address Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) requirements. Notably, the proposals would require stablecoin issuers to implement customer identification program requirements under the Bank Secrecy Act, mirroring the obligations placed on regulated financial institutions like banks.
Agencies involved in this rulemaking include the FDIC, Federal Reserve, OCC, National Credit Union Administration, and FinCEN. The GENIUS Act is expected to go into effect 18 months after it was signed or 120 days after federal authorities finalize regulations. While the GENIUS Act is moving forward, the U.S. Congress has not yet set a timeline for addressing the Digital Asset Market Clarity (CLARITY) Act, which aims to redefine regulatory roles for crypto assets.