Treasury unveils dual rules for stablecoin companies below $10B
By Pooja Rajkumari
Published on April 1, 2026.
The United States Department of the Treasury has issued its first proposed rule under the GENIUS Act, which allows certain stablecoin issuers to operate under state-level regulatory regimes. The Act, signed by President Trump in 2025, is the first federal law to create a comprehensive regulatory framework for stablecoins in the U.S. However, state regimes must be "substantially similar" to federal standards and must meet or exceed federal standards. Once a stablecoin issuer exceeds $10 billion in issuance, it is expected to transition toward federal supervision. The proposal is calling on stakeholders across finance, crypto and regulatory sectors to comment on implementation.
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