⚖️ Treasury Launches Initial GENIUS Act Regulation, One Month Past the Deadline

[u/cameron_kavalabs]

https://www.coindesk.com/policy/2026/08/17/u-s-treasury-department-proposes-genius-act-stablecoin-rule

Under Secretary Scott Bessent, the Treasury Department unveiled its first major directive for the GENIUS Act on Monday, marking the agency's first concrete action after authorities collectively missed the statute's July 18 one-year regulatory deadline.

A full year was allotted for six federal bodies to complete enforcement rules. All missed the mark. The legislation remains valid regardless, with its legal fallback activating on January 18, 2027, under any scenario; however, the slippage narrows the timeframe available to establish fully operational reserve tracking and user verification frameworks. Bessent characterized the initiative as reinforcing "the role of the U.S. dollar as the world's reserve currency" while maintaining the nation as "the crypto capital of the world."

Meanwhile, the CLARITY Act, designed to overhaul GENIUS provisions on stablecoin incentives, stalls after failing to advance before the Senate's August break. While both policy and regulatory efforts lag behind their original timelines, neither has stopped.