The U.S. Department of the Treasury will transform the GENIUS Act into stablecoin regulatory rules.

Techub News: According to CoinDesk, the U.S. Department of the Treasury has officially begun efforts to turn the "GENIUS Act" into stablecoin regulations. The public comment period for the preliminary rulemaking steps is now briefly open, aiming to gather information to inform more detailed proposals in the future. The "GENIUS Act" involves multiple federal agencies, and the Treasury Department must address issues such as sanctions, illicit finance, taxation, and constraints on issuers.