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The U.S. Department of the Treasury today released a Notice of Proposed Rulemaking (NPRM) for the GENIUS Act stablecoin framework, introducing a new pathway that allows stablecoin issuers with less than $10 billion in assets to operate under approved state-level regulation instead of full federal oversight.
Under the proposed rules, qualifying stablecoin issuers can choose to be regulated by approved state authorities while meeting standards that mirror key federal requirements. This GENIUS Act stablecoin proposal is designed to foster innovation while maintaining strong safeguards in the rapidly growing stablecoin market.
For cross-border fintech companies and multinational corporations active in digital payments and crypto, this GENIUS Act stablecoin development creates new strategic options and potentially lower compliance costs compared to a purely federal regime.
The Treasury is accepting public comments on the NPRM. Stakeholders have until the official comment deadline to submit feedback. This consultation period will shape the final rules governing the future of state-level stablecoin regulation in the U.S.
