Treasury Proposes Rules on Stablecoin Issuance and Sales Under GENIUS Act
U.S. Treasury issues NPRM implementing Section 3 of the GENIUS Act on payment stablecoin issuance and sales. Licensed issuers required starting January 18, 2027; platform restrictions begin July 18, 2028. Public comments due by October 19, 2026. Proposal aims to clarify definitions for regulatory certainty in the stablecoin market. The U.S. Department of the Treasury on August 17 issued a Notice of Proposed Rulemaking seeking public comment related to its implementation of section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The NPRM proposes a framework defining what it means to issue a payment stablecoin in the United States and to offer or sell a payment stablecoin to a person in the United States, providing clarity on when issuers need a GENIUS license and how platforms can distribute tokens, according to the official Treasury statement. “President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework,” Treasury Secretary Scott Bessent said. Under the Act, enacted July 18, 2025, beginning on January 18, 2027, a person generally may not issue a payment stablecoin in the United States unless licensed at the federal or state level. Digital asset service providers generally may not offer foreign-issued payment stablecoins unless the foreign issuer has the technological capability to comply with lawful orders and any reciprocal arrangement with the United States. Beginning July 18, 2028, digital asset service providers generally may not offer or sell any payment stablecoins to persons in the United States unless issued by a licensed issuer, as reported by Decrypt and CoinDesk. Comments on the proposal must be received on or before October 19, 2026. The rules build on an advance notice of proposed rulemaking issued last September and seek to support innovation while cementing the U.S. dollar as the world’s reserve currency. Bessent noted that Treasury welcomes stakeholder input “as we work to provide the regulatory certainty businesses need to innovate and grow in America… and keep America the crypto capital of the world.” Payment stablecoins under the GENIUS Act must be backed 1:1 by liquid reserves such as U.S. currency, demand deposits, or short-term Treasuries. The proposal represents a critical step in operationalizing the first comprehensive U.S. federal framework for these assets. The post Treasury Proposes Rules on Stablecoin Issuance and Sales Under GENIUS Act appeared first on Cryptopress.
Treasury Proposes Rules on Stablecoin Issuance and Sales Under GENIUS Act
<ul><li>U.S. Treasury issues NPRM implementing Section 3 of the GENIUS Act on payment stablecoin issuance and sales.</li><li>Licensed issuers required starting January 18, 2027; platform restrictions begin July 18, 2028.</li><li>Public comments due by October 19, 2026.</li><li>Proposal aims to clarify definitions for regulatory certainty in the stablecoin market.</li></ul><p class="has-drop-cap">The U.S. Department of the Treasury on August 17 issued a <a href="https://home.treasury.gov/news/press-releases/sb0605" target="_blank" rel="noopener">Notice of Proposed Rulemaking</a> seeking public comment related to its implementation of section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.</p><p>The NPRM proposes a framework defining what it means to <strong>issue a payment stablecoin in the United States</strong> and to <strong>offer or sell</strong> a payment stablecoin to a person in the United States, providing clarity on when issuers need a GENIUS license and how platforms can distribute tokens, according to the <a href="https://home.treasury.gov/news/press-releases/sb0605" target="_blank" rel="noopener">official Treasury statement</a>.</p><p>"President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework," <a href="https://home.treasury.gov/news/press-releases/sb0605" target="_blank" rel="noopener">Treasury Secretary Scott Bessent</a> said.</p><p>Under the Act, enacted July 18, 2025, beginning on <strong>January 18, 2027</strong>, a person generally may not issue a payment stablecoin in the United States unless licensed at the federal or state level. Digital asset service providers generally may not offer foreign-issued payment stablecoins unless the foreign issuer has the technological capability to comply with lawful orders and any reciprocal arrangement with the United States.</p><p>Beginning <strong>July 18, 2028</strong>, digital asset service providers generally may not offer or sell any payment stablecoins to persons in the United States unless issued by a licensed issuer, as reported by <a href="https://decrypt.co/375817/treasury-rules-sell-stablecoins-us" target="_blank" rel="noopener">Decrypt</a> and <a href="https://www.coindesk.com/policy/2026/08/17/u-s-treasury-department-proposes-genius-act-stablecoin-rule" target="_blank" rel="noopener">CoinDesk</a>.</p><p>Comments on the proposal must be received on or before <strong>October 19, 2026</strong>. The rules build on an advance notice of proposed rulemaking issued last September and seek to support innovation while cementing the U.S. dollar as the world’s reserve currency.</p><p>Bessent noted that Treasury welcomes stakeholder input "as we work to provide the regulatory certainty businesses need to innovate and grow in America... and keep America the crypto capital of the world."</p><p>Payment stablecoins under the GENIUS Act must be backed 1:1 by liquid reserves such as U.S. currency, demand deposits, or short-term Treasuries. The proposal represents a critical step in operationalizing the first comprehensive U.S. federal framework for these assets.</p>
Public Bitcoin Miners Shed 21% Hashrate as AI Colocation Revenue Surges
<ul><li>Public miners' realized hashrate fell 13.4% to 319 EH/s in Q2 2026 from 368.3 EH/s in Q4 2025, outpacing the network's 10.6% decline.</li><li>Excluding Bitdeer, the drop reached 21.2%; Core Scientific generated $136.7 million in colocation revenue versus roughly $27.5 million from mining.</li><li>TeraWulf reported $31.9 million in HPC lease revenue, accounting for 71% of total, amid sector-wide AI contracts exceeding $70 billion.</li></ul><p class="has-drop-cap">Publicly traded Bitcoin miners are accelerating a pivot toward artificial intelligence infrastructure, resulting in a sharper decline in their collective hashrate than the broader network, according to analysis from <a href="https://news.bitcoin.com/mining/public-miners-shed-21-of-bitcoin-hashrate-as-ai-revenue-accelerates/" target="_blank" rel="noopener">BlocksBridge Consulting's Miner Weekly</a> published August 16.</p><p>The cohort's realized hashrate dropped from <strong>368.3 EH/s</strong> in the fourth quarter of 2025 to <strong>319.0 EH/s</strong> in the second quarter of 2026, a <strong>13.4%</strong> reduction. Stripping out Bitdeer, which expanded 44% to 63.0 EH/s, the remaining miners saw a <strong>21.2%</strong> decline from 324.6 EH/s to 255.9 EH/s. The Bitcoin network's average hashrate fell a more moderate 10.6% over the same period, from 1,071 EH/s to 957 EH/s, per the data.</p><p>Leading the shift, <a href="https://d1io3yog0oux5.cloudfront.net/_52d5acc3093bbedf1acdad903966e7ef/corescientific/news/2026-07-28_Core_Scientific_Announces_Second_Quarter_2026_139.pdf" target="_blank" rel="noopener">Core Scientific</a> reported <strong>$136.7 million</strong> in colocation revenue in Q2 2026, representing about 83% of sales and exceeding its bitcoin mining revenue. <a href="https://www.fool.com/earnings/call-transcripts/2026/08/12/terawulf-wulf-q2-2026-earnings-call-transcript/" target="_blank" rel="noopener">TeraWulf</a> similarly posted <strong>$31.9 million</strong> in HPC lease revenue, or 71% of its total, compared with $12.8 million from mining.</p><p>The trend reflects multiyear AI hosting contracts totaling more than <strong>$70 billion</strong> across the public mining sector, locking capacity into long-term leases that prioritize GPU and high-performance computing over ASIC mining, as detailed in related <a href="https://coinnews.com/news/bitcoin-miners-ai-pivot/" target="_blank" rel="noopener">coverage</a>. Companies including IREN, Cipher Digital, and Keel Infrastructure have also decommissioned or repurposed fleets, while Bitdeer, MARA, and Riot Platforms partially offset losses through expansion.</p><p>While the move diversifies revenue streams and has supported relative stock performance, it raises questions about long-term network hashrate distribution as power is reallocated away from Bitcoin mining. The structural nature of these contracts may limit any rapid return to mining even if bitcoin economics improve.</p>
OCCは2026年8月14日、World Liberty Trust Companyに対し、全米の信託銀行として営業するための予備的条件付き承認を付与した。 この認可により、同社はBitGoからUSD1ステーブルコインの発行を引き受け、機関投資家向けにデジタル・アセットの保管サービスを提供できるようになる。 最終承認は、資本およびコンプライアンス基準を含む事前オープン要件を満たすことに引き続き条件付けられている。 USD1は、時価総額が約40億ドルにのぼる、ドル連動型ステーブルコインの中でも大きな部類に入る。 米通貨監督庁(OCC)は2026年8月14日、World Liberty Trust Company, National Associationに対し、ステーブルコインおよびデジタル・アセット・サービスに注力する全米の信託銀行を設立するための予備的条件付き承認を付与した。
OCCは2026年8月14日、ワールド・リバティ・トラスト・カンパニー(World Liberty Trust Company)に対し、ナショナル・トラスト銀行として業務を行うことについて、予備的な条件付き承認を付与した。この認可により、同社はBitGoからUSD1ステーブルコインの発行を引き継ぐことができ、機関投資家向けにデジタル資産のカストディ(保管)サービスを提供することも可能になる。最終承認は、資本やコンプライアンスなどの基準を含む、開業前の要件を満たすことが条件として残る。USD1は、時価総額が約40億ドルに達するなど、大型のドル担保型ステーブルコインの一つである。米通貨監督庁(OCC)は2026年8月14日、トランプ・ワールド・リバティ・トラスト・カンパニー(World Liberty Trust Company, National Association)に対し、ステーブルコインおよびデジタル資産サービスに重点を置くナショナル・トラスト銀行を設立することについて、予備的な条件付き承認を付与した。
KPMG米国は、テザー・インターナショナルの2025年通期財務諸表について無限定適正意見を発行した。監査済み準備金は、2025年12月31日時点で負債を68.14億ドル上回っていた。KPMGは、テザーの保有する金地金のすべてのバーを物理的に数え、点検した。CEOのパオロ・アルドイーノ氏は、このマイルストーンをステーブルコイン業界にとっての画期的な瞬間だと述べた。ステーブルコイン大手テザーは8月13日、KPMG米国が、テザー・インターナショナルS.A. de C.V.の2025年12月31日終了の年度に関する財務諸表について、全面的な独立監査を完了し、無限定適正意見を発行したと発表した。