Federal Register #2026-19966

Treasury establishes procedures for state stablecoin certification reviews

The Department of the Treasury issued an interim rule establishing state stablecoin certification review procedures under the GENIUS Act. - Government agency and review body: The Department of the Treasury acts on behalf of the Stablecoin Certification Review Committee, which includes the Treasury Secretary, the Chair of the Federal Reserve Board or delegated Vice Chair for Supervision, and the Chairman of the Federal Deposit Insurance Corporation (FDIC). - Purpose: Establishes prescribed forms and procedures for reviewing certifications and annual recertifications from state payment stablecoin regulators, and for approving or denying them. - Key requirements: Covers submission requirements, review standards, opportunities to correct deficiencies and resubmit, and appeals. Submissions may begin after the required Paperwork Reduction Act approval. - Procurement status: This is a regulatory action, not a procurement or contract award. No OEMs, commercial vendors, products, quantities, or procurement services are identified.

Description

The Department of the Treasury, on behalf of the Stablecoin Certification Review Committee, is issuing an interim final rule establishing procedures and forms for the Committee’s review of certifications from State payment stablecoin regulators under the GENIUS Act. The procedures cover the submission and review of initial certifications and annual recertifications, including approval or denial, opportunities to cure and resubmit, and appeals. The rule also prescribes certification forms. Certifications will not be accepted until the information collection receives Paperwork Reduction Act approval; Treasury will announce when submissions may begin.

View original listing