US Treasury expects GENIUS Act to take effect January 18, 2027
- —General effective date set at January 18, 2027, 18 months after enactment
- —Some issuance and sale restrictions apply from July 18, 2028
- —OCC expects final rules by late October after missing the original July deadline
- —Reserves must back payment stablecoins at least 1:1, with no interest paid to holders
Why it matters: The rules will determine who can issue payment stablecoins in the US and set deadlines for issuers, exchanges and holders.
Source: TokenPost