The US Department of the Treasury has released an advance notice of proposed rulemaking (ANPRM) to implement the GENIUS Act, which focuses on stablecoins. This initiative invites public comments for 30 days, targeting areas such as consumer protection, illicit finance, and market oversight related to stablecoin issuance. The GENIUS Act, passed earlier in 2025, is the first major US legislation centered on payment stablecoins and aims to create a regulatory framework that balances innovation with necessary oversight. The Treasury's current notice does not entail new obligations but represents a key step in translating the GENIUS Act into law. This notice comes on the heels of an earlier request for comments concerning illicit activities related to digital assets, which is still open until mid-October. According to data, Ethereum continues to lead in the stablecoin market, with USDT and USDC among the largest stablecoins on its network.

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