Stablecoin Certification Review Committee Interim Procedures

Treasury sets procedures for reviewing state stablecoin regimes under GENIUS Act

The Treasury Department, on behalf of the Stablecoin Certification Review Committee, issued an interim final rule on Sept. 30 setting the process and forms for state payment stablecoin regulators to certify their regimes under section 4(c) of the GENIUS Act. The committee, chaired by the Treasury Secretary with the Federal Reserve and FDIC chairs, will approve or deny certifications. None will be accepted until the information collection receives Paperwork Reduction Act approval. Comments are due Nov. 30.