The U.S. Treasury Department has launched the GENIUS Act to regulate stablecoins.

According to CoinDesk, the U.S. Treasury Department has officially initiated the process of translating the GENIUS Act into specific stablecoin regulations, opening a one-month public comment period.

This action marks a substantial step forward in the U.S.'s cryptocurrency regulatory legislation. The Treasury Department, through the release of an Advance Notice of Proposed Rulemaking (ANPRM), is seeking industry and public feedback on a number of key issues.

The document covers a wide range of topics, including the qualifications and restrictions for stablecoin issuers, sanctions compliance mechanisms, implementation of anti-money laundering (AML) policies, tax treatment, and coordination between federal and state regulatory frameworks.

The Treasury also specifically requested feedback on several specific operational issues, such as custody requirements for reserve assets and regulatory responses for stablecoins in overseas payment scenarios.

As part of the first formal legislative process targeting the cryptocurrency sector in the United States, the advancement of the GENIUS Act is seen as a precursor to more comprehensive industry legislation.

Its development and implementation are expected to provide clear compliance guidance for the digital asset market and influence the direction of global stablecoin regulation.

Analysts believe that the implementation of this bill is not only related to domestic financial stability and innovation balance, but may also have a demonstration effect on international regulatory cooperation.

Currently, the Ministry of Finance encourages multiple parties, including issuers, trading platforms, academic institutions, and the general public, to actively participate in feedback in order to form a more comprehensive and feasible regulatory system.