The U.S. Treasury Department on 18 August issued a Request for Comment required under the recently enacted GENIUS Act, launching the rule-making process for a federal framework governing stablecoins and other digital assets. Treasury Secretary Scott Bessent said implementing the law is “essential to securing American leadership in digital assets,” adding that well-regulated stablecoins could widen dollar access for billions worldwide and boost demand for the U.S. currency. The consultation invites industry and public feedback on ways to curb illicit-finance risks while supporting innovation, advancing President Donald Trump’s executive order on strengthening U.S. leadership in the sector. Treasury said the responses will shape forthcoming regulations that aim to clarify oversight responsibilities and integrate stablecoins into the broader financial system.