🔈🔈 U.S. MOVES GENIUS ACT INTO STABLECOIN RULEMAKING 💥 The U.S. Treasury has officially moved the GENIUS Act into the rulemaking phase, releasing its first proposed rules covering the issuance, offer, and distribution of payment stablecoins in the United States. 👑 Key points: ✔️ January 18, 2027: Payment stablecoin issuers operating in the U.S. will generally need to be authorized under the GENIUS Act. ✔️ July 18, 2028: Digital asset service providers generally will not be allowed to offer or provide payment stablecoins to U.S. users unless the token is issued by an authorized issuer. ✔️ Foreign stablecoins: The proposal introduces requirements for foreign issuers, including their ability to comply with U.S. legal orders and maintain appropriate regulatory cooperation with their home jurisdictions. ✔️ What about USDT? Tether and other foreign stablecoins are likely to face close scrutiny. However, the proposal does not mean USDT is immediately banned in the U.S. Its treatment will depend on the final rules and how foreign issuers meet the requirements. 🗓 Public comment period: 60 days, giving companies and the public an opportunity to provide feedback. 👀 The proposal marks a major step toward turning the GENIUS Act into an operational regulatory framework for stablecoins, potentially reshaping how global stablecoin issuers and crypto platforms operate in the U.S.