U.S. Treasury Secretary Yellen stated that the Treasury is rapidly advancing the implementation of the GENIUS Act

According to Bitcoin Magazine, U.S. Treasury Secretary Scott Bessent stated that the Treasury is rapidly advancing the implementation of the GENIUS Act. Bessent pointed out that the expected effective date of the Act is January 18, 2027, and the Treasury has begun arrangements accordingly.

The GENIUS Act is an important federal legislation in the U.S. aimed at payment stablecoins, designed to clarify issuance, reserve, and regulatory requirements, providing a unified framework for compliant U.S. dollar stablecoins. Bessent's statement indicates that the U.S. Treasury is accelerating the preparation of supporting rules and execution in accordance with the statutory timetable to ensure the Act is operational before the effective date.