The US Treasury Department is asking its public to consider how it should be implemented Genius actThe country’s first law is written exclusively for stubcoin. Passed earlier this year with strong political support, the law lays the foundation for regulating payments stablecoins However, many details have not been resolved. Treasury officials now require industry leaders, critics and everyday stakeholders to provide feedback on questions ranging from taxation to foreign issuers before drafting formal rules.
What is a genius act?
The US Guidelines and Establishment of National Innovation (Genius) Act was the first crypto-specific law passed in the United States. The law enacted with bipartisan support this summer and signed by President Donald Trump, aims to create a regulatory framework for payment stability. Its core goal is to balance innovation with consumer protection, financial stability and safeguards against illegal finances.
The role of the Ministry of Finance in the formation of rules
The US Treasury Department is tasked with drafting regulations under the Genius Act. Authorities say they want to design guidelines It drives the growth of the Stablecoin sector while setting up a customized compliance regime. To that end, the Treasury is seeking feedback from both critics and industry participants. The public comment period will remain open until October 20th, giving stakeholders the opportunity to shape how the law is applied.
Important questions that the Ministry of Finance wants to answer
There are some open issues remaining as the Treasury prepares its proposal.
- Taxation: The Genius Act does not directly address how Stablecoins should be treated under federal income tax laws, and leaves an interpretation in the IRS.
- Foreign Publishers: The law includes potential routes for foreign, ridiculous publishers to operate in the US, but the timeline and requirements are not yet clear.
- Marketing rules: The Treasury is considering whether advertising and promotion restrictions should be part of the framework.
- Federal vs. State Coach: Regulators need to decide how to balance national authority with a consistent national regime.
- AML and punishment: The application of the Bank Secrecy Act (BSA), Money Laundering Anti-Money Laundering (AML) rules, and the obligation to sanctions remain of central concern.
Why industry feedback is important
Stablecoins are located at the intersection of payments, banking and crypto markets. In other words, regulatory decisions could reshape the future of digital finance. Industry insiders are expected to highlight how different approaches affect liquidity, innovation and compliance costs. Critics, meanwhile, could highlight consumer risks and systematic vulnerabilities.
The political context behind the genius
The Genius Act passed both Republican-led Congress in July 2025 and was quickly signed into law by President Trump. The administration is pushing for Stablecoin legislation as part of a broader effort to reform the US regulatory environment and demonstrate openness to digital assets.
What’s coming next?
After the October 20th deadline, the Ministry of Finance will review the public entry and begin forming formal rules. These regulations set the tone of voice regarding payment stability behaviour in the US. This determines not only tax and compliance obligations, but also whether the country will establish its position as leader or lagard in the global digital currency race.
