the u.s. treasury department failed to complete the final enforcement rules for genius act

The United States Department of the Treasury and the main federal stabilization currency regulator failed to complete the final implementation rules for the Genius act within the one-year deadline of 18 July. The Act, which entered into force on 18 July 2025, requires the United States Monetary Supervisory Authority (OCC), the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the National Credit Unions Authority (NCUA) and the Department of the Treasury, among others, to establish a set of provisions within one year. By the end of the deadline, key rules relating to issuer reserves, capital, liquidity, trusteeship, risk management and county-level regulatory recognition were still at the proposal stage. The period of opinion on the customer identification rules will continue until 21 August, while the FDIC anti-money-laundering proposal will be open until 4 August. This extension will not automatically delay the entry into force of the Act, which will still take effect no later than 18 January 2027。