The US Department of the Treasury has announced a second period for public comments on the implementation of the GENIUS Act, a bill regulating stablecoin payments that was signed into law by President Trump in July. Although the advance notice of proposed rulemaking was not needed for implementation, the Treasury is inviting comments to further refine the law. The current comment period extends until October 17 and focuses on concerns surrounding illicit activities. The GENIUS Act aims to establish clear regulations for payment stablecoins, with potential implementation occurring in late 2026. The Senate is also expected to consider a digital asset market structure framework this month, which would clarify the roles of US financial agencies in overseeing crypto regulations. Key lawmakers, including Senator Cynthia Lummis, are actively engaging with industry participants to shape these legislative efforts.

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