The U.S. Treasury Department launches the formulation of GENIUS bill, and opens the collection of opinions on stablecoin regulatory

According to ChainCatcher, the US Treasury Department recently launched the "Notice of Pre-Proposed Rules" (ANPRM) procedure to promote the formal implementation of the GENIUS Act (Innovation Guidance and Enactment of the United States Stable Coin Country Innovation Guidelines and Enactment) signed by President Trump, marking the entry of the stablecoin legislation into the substantive regulatory stage. The Ministry of Finance solicited opinions on the issuer's restrictions, sanctions compliance, anti-money laundering requirements, federal and state-level regulatory balance, tax issues and reserve asset custody. The public and crypto businesses can submit feedback by October 20. The GENIUS Act, as the first crypto legislation, has become law. The Ministry of Finance intends to further refine the regulatory framework and form a supporting role with the Digital Asset Market Clear Act under discussion.