Treasury’s Stablecoin Sales Rule Closes for Comment…
By Tobi Opeyemi Amure
AI summary of the source article
The US Treasury is concluding its public comment period on 19 October for proposed regulations governing payment stablecoin issuance, offers, and sales under the GENIUS Act. Enacted in July 2025, the Act introduces an 18 July 2028 restriction barring digital asset service providers from offering payment stablecoins to US persons unless issued by a permitted issuer. Treasury's proposal broadens service provider coverage across exchanges, brokers, and custodians while rejecting strict liability in favor of a safe harbor for certain foreign issuers. The framework critically impacts Tether's USDT, prompting the issuer to also launch a domestic token, USAT, via Anchorage Digital Bank.
Why it matters
The rule determines whether major foreign stablecoins, including USDT, can legally be offered on US digital asset trading venues.
Key facts
- The US Treasury's proposed rule regarding GENIUS Act payment stablecoin sales closes for comment on 19 October.
- Starting 18 July 2028, digital asset service providers are prohibited from offering payment stablecoins to US persons unless issued by a permitted issuer.
- Treasury provided a safe harbor for foreign issuers that maintain policies against US issuance and do not market to US persons.