The U.S. GENIUS stablecoin law: the roadmap to 2027, what's in place and what isn't yet
Author: Crypffalo Research · 20:40 04/10/2026
The GENIUS Act was signed in July 2025, but its detailed rules are still in draft form. The main effective date for stablecoin issuance licensing in the U.S. is Jan 18, 2027.
Stablecoins such as USDT and USDC are the main "currency" on crypto exchanges. In the U.S., the GENIUS Act is the first legal framework dedicated to payment stablecoins. The law has been signed, but many people mistakenly believe all of its rules are already in effect. In reality, the detailed regulations are still being drafted.
Key milestones
- Jul 18, 2025: The GENIUS Act is signed into law (Public Law 119-27).
- Aug 17, 2026: The U.S. Treasury publishes draft rules on stablecoin issuance and their scope of application in the U.S.
- November 2026: The Office of the Comptroller of the Currency (OCC) aims to finalize its rules.
- Jan 18, 2027: The main effective date for the stablecoin issuance licensing requirement in the U.S.
- Jul 18, 2028: Deadline for rules covering digital asset service providers.
What does each agency do?
- Treasury: defines what counts as a payment stablecoin, when a stablecoin is considered offered in the U.S., and equivalence standards for state regulators.
- OCC: licenses and supervises issuers under federal charters, setting requirements on capital, liquidity, governance and operational risk.
- Fed and FDIC: jointly draft rules on anti-money laundering and sanctions compliance.
What's important to understand
- The Treasury and OCC rules are currently only drafts, not final regulations. A draft or a proposed timeline is not yet binding.
- A large or popular stablecoin is not necessarily licensed under the new framework.
- In parallel, the CLARITY Act on crypto market structure failed in the Senate by a 49–50 vote (see CLARITY Act fails), so a comprehensive legal framework for crypto in the U.S. is still incomplete.
Impact on users in Vietnam
- For now there is no direct change to depositing, withdrawing or trading USDT and USDC on international exchanges.
- From 2027, issuers that want to serve the U.S. market will have to meet stricter licensing, reserve and transparency requirements. This could affect whether exchanges list or support certain stablecoins.
- Favor stablecoins with transparent reserve reports and follow official announcements from the exchange you use. Learn more about stablecoins and how to transfer coins on the right network.
This content is for information only; it is not financial advice or legal advice.
Tags: Stablecoin, Policy, U.S. Regulation, USDT
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