Haciyev Reşit 
The U.S. Treasury Department has issued a public call for comments under the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), which was signed into law by President Donald Trump in July.
The Department is inviting individuals and institutions to submit innovative methods and strategies for detecting illicit activities conducted through digital assets by October 17, 2025. This step stands out as one of the mandatory provisions of the Act.
Statements from Treasury Secretary Scott Bessent
Treasury Secretary Scott Bessent emphasized on his X account that this process is of “vital” importance for the implementation of the Act. The Department will analyze proposals from the public and prepare a report to be submitted to the Senate Banking Committee and the House Financial Services Committee, thereby ensuring that public input contributes directly to shaping concrete regulations.
Timeline for Implementation of the Act
The GENIUS Act aims to regulate payment stablecoins and will take effect within 18 months of its passage on July 18, 2025. However, if the Treasury Department and the Federal Reserve complete the necessary regulations within 120 days, the Act could be enforced earlier.
This timeline reduces the likelihood of crypto policies being leveraged as a political tool ahead of the 2026 midterm elections.
Key Focus Areas in the Public Call
The Treasury’s request for input highlights several core topics:
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Anti-money laundering (AML) and identity verification processes
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Blockchain-based monitoring technologies
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Use of artificial intelligence (AI) applications
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API integrations and data sharing
By seeking public input under the GENIUS Act, the U.S. aims to pursue an innovative and transparent approach to digital asset regulation. This process is expected to contribute to making stablecoins and the broader crypto markets safer and more traceable.
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