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Comments close Oct 19. Yield is leftover Clarity.
GENIUS NPRM is still the gate, not a ticker. Comments close Oct 19. Issue license by the expected Jan 18 2027 effective date; DASP offer/sell of licensed coins by Jul 18 2028. Jones Day: final regs are not expected early enough to pull that date forward. Issuer-paid interest is already barred; exchange or DeFi rewards that look like yield are the leftover political fight inside Clarity, whose cloture on the motion to proceed is Sep 15 at 2:15 p.m. ET — a 60-vote test, not final passage. Not pric
Jones DayU.S. Treasury Proposes GENIUS Act Rules for Stablecoin Issuance, Offer, and SaleLawyer clothes on the gate. Final regs not expected early enough to pull the Jan 18 2027 effective date forward. PPSI via federal or substantially similar state path. DASP defined broadly for U.S.-facing exchange, custody, transfer. This is concentration, not a candle.Read original Sullivan & CromwellTreasury Department Proposes Rules Clarifying Prohibitions on the Unlawful Issuance, Offer and Sale of Payment StablecoinsDefines issue, issuer, located in the United States, and the three Section 3 prohibitions: issuance, 2028 DASP offer/sell, foreign-issuer make-available. Comments due Oct 19. Who may mint, list, and cash out — not where BTC printed.Read original BrookingsNext steps for GENIUS payment stablecoinsThe leftover fight. GENIUS already bars issuer-paid interest. Banks are still fighting affiliate and exchange rewards that look like yield. That loophole is sitting inside Clarity, not inside the NPRM comment docket.Read original Paul HastingsOCC Proposed Rule Under the GENIUS Act: Six Key TakeawaysMarket structure is splitting into a Senate vote and a rulebook pile. OCC rebuttable presumption on affiliate yield; Clarity cloture Sep 15; states standing up substantially similar regimes. If the Senate misses, the agencies keep writing anyway.Read original r/defiTop incentivized Merkl stablecoin-only yieldsSame week Treasury is taking comments, r/defi is still posting stablecoin-only farm lists. The statute closed issuer yield. The industry is still arguing over the workaround. Not a price call.Read original