Treasury Proposes Rules Defining Who Can Legally Sell Stablecoins in US
DECRYPT ·
Treasury proposed rules defining when stablecoins are issued, offered, or sold in the US under the GENIUS Act. Beginning January 18, 2027, issuers generally must obtain a federal or state license to issue payment stablecoins in the US. Starting July 18, 2028, crypto platforms generally cannot sell stablecoins to US customers unless they come from an approved issuer. The U.S. Department of the Treasury proposed rules Monday defining which stablecoins can be issued or sold in the United States under the GENIUS Act. The proposal implements Section 3 of the GENIUS Act, signed into law last summer. According to the proposal, beginning January 18, 2027, stablecoin issuers generally must obtain a federal or state license. Platforms can also sell foreign-issued stablecoins, but only if the foreign issuer complies with U.S. legal orders and agreements between the U.S. and the country where it is regulated. “President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework,” Treasury Secretary Scott Bessent wrote on X.
AI 시장 분석
The U.S. Department of Treasury has proposed new regulations defining entities legally permitted to sell stablecoins. This regulation is expected to enhance transparency in the cryptocurrency market and accelerate its integration into the mainstream financial system. Investors should monitor market participant shifts and compliance costs resulting from future regulation finalization.
상승 영향
- Cryptocurrency — Legal uncertainty is resolved through clear regulatory standards, and institutional investors' market entry is expected to be promoted.
하락 영향
- Cryptocurrency — Due to strict regulatory compliance demands, compliance costs for small and medium-sized issuers may surge and operations could be restricted.
DYAX 전담 분석
The U.S. Treasury's proposed regulation on stablecoin sales entities has a causal relationship in resolving legal uncertainties in the cryptocurrency market. With clear standards established for legal operators, the entry of institutional financial institutions is expected to be promoted and reliability improved.
While short-term volatility may increase due to rising regulatory compliance costs, healthy growth is anticipated in the long run. Key monitoring indicators are industry feedback during the regulation finalization process and the response strategies of major issuers.
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