The U.S. Treasury Department on Aug. 18 opened a public consultation required by the recently enacted Generational Enforcement of Novel Innovation in U.S. Stablecoins (GENIUS) Act, seeking industry and academic input on how artificial intelligence, blockchain analytics and other technologies can help detect illicit activity in digital-asset markets. Treasury Secretary Scott Bessent called swift implementation of the statute “essential to securing American leadership in digital assets,” adding that dollar-pegged stablecoins could “expand dollar access for billions worldwide” and spur fresh demand for the U.S. Treasuries that underlie most tokens. Signed by President Donald Trump in July, the GENIUS Act establishes the first comprehensive federal framework for stablecoins. It requires issuers to hold full cash or cash-equivalent reserves, imposes annual audits on firms with more than $50 billion in circulation, and directs Treasury to report its findings to Congress. Stakeholders have until Oct. 17 to submit comments.