The US Department of Treasury is now “moving quickly” to implement the crypto GENIUS act, according to Treasury Secretary Scott Bessent. Today, the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking, seeking public comment related to Treasury’s implementation of section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

“President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework,” said Treasury Secretary Scott Bessent. “Treasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate and grow in America, cement the role of the U.S. dollar as the world’s reserve currency, and keep America the crypto capital of the world.”

The US administration under Donald Trump has backed the cryptocurrency domain officially. Trump has delivered serious protection to the rising cryptocurrency sector, adding how he wants the US to take the lead in governing the digital asset domain on a global platform. This development has given birth to a new infrastructural alignment that involves the work of the GENIUS and Clarity Acts, both of which Scott Bessent support.

While the Clarity act remains up for consideration, the US Treasury is working to establish a good framework for the GENIUS act. This act helps in streamlining the role of stablecoins in the current financial structure and regime. The Treasury deparment is actively seeking public opinion and input from crypto experts for developing this framework, of which several experts already have.