The U.S. Treasury Department has initiated the implementation phase of the GENIUS Act, the nation's first comprehensive stablecoin regulatory framework, by launching a 60-day public comment period focused on combating illicit cryptocurrency activities. Authorities are specifically soliciting input on innovative detection methods for money laundering and other illegal transactions involving digital assets, with submissions due by October 17, 2025.
Required under Section 9(a) of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act signed by President Trump in July 2025, this request targets four key technological areas: application programming interfaces (APIs), digital identity verification, artificial intelligence implementations, and blockchain monitoring tools. The Treasury emphasized that feedback will directly shape research into effectiveness, costs, privacy safeguards, and cybersecurity risks of compliance solutions.
This action aligns with President Trump's January 23, 2025 executive order on Strengthening American Leadership in Digital Financial Technology, positioning the GENIUS Act as foundational to U.S. crypto security strategy. Treasury officials noted the framework complements existing analytics platforms like Chainalysis and TRM Labs while fulfilling national security objectives.
The GENIUS Act represents the initial component of a two-phase legislative approach, with the House-passed Digital Asset Market Clarity Act awaiting Senate consideration following summer recess. Implementation will involve coordination across banking regulators including the OCC and FDIC to establish stablecoin issuer oversight protocols.