The US Treasury Department has initiated work to transform the <i>GENIUS Act</i> into stablecoin regulatory regulations.

BlockBeats News, September 19. According to CoinDesk, the US Treasury Department has officially begun the work of transforming the "GENIUS Act" into stablecoin regulatory regulations. Currently, the public can comment on the initial rulemaking steps in a short period to gather information for subsequent more complete proposals. The "GENIUS Act" involves multiple federal agencies, and the Treasury Department needs to address issues such as sanctions, illicit finance, taxation, and issuer constraints.