The U.S. Treasury has initiated public consultations on the GENIUS Act, regulating stablecoins and digital dollars, a significant step in defining America's role in global digital finance.
Goals and Features of the GENIUS Act
The GENIUS Act, signed on July 18, 2025, creates a clear framework for U.S. stablecoin issuers. It builds on President Donald Trump's Executive Order that allowed crypto investments in 401(k) retirement plans.
Industry Experts' Opinions
Financial experts have praised the initiative, highlighting its importance for the future of digital assets. Jeremy Allaire, CEO of Circle, described the law as 'more than financial legislation', emphasizing its potential to make finance safer and more accessible.
The Importance of Public Participation in Stablecoin Regulation
The Treasury is inviting citizens and professionals to share their views on the use of artificial intelligence, blockchain technologies, and digital identity verification in relation to stablecoins. The consultation will last until October 17, 2025, with submissions published on regulations.gov.
The public consultations on the GENIUS Act highlight the need for citizen and expert engagement in the regulatory process for stablecoins, shaping the future of digital dollars and their impact on the financial ecosystem.
