Global Digital Finance (GDF) convened its U.S. Policy & Regulatory Working Group to analyze the Department of the Treasury’s Advance Notice of Proposed Rulemaking (ANPRM) on implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. GDF welcomes Treasury’s initiative to establish a clear and proportionate regulatory framework for payment stablecoins that both safeguards consumers and financial stability while enabling innovation in the U.S. digital asset ecosystem.
GDF supports Treasury’s initiative under the GENIUS Act and welcomes a technology-neutral, proportionate framework that safeguards consumers and financial stability while enabling responsible innovation. We are committed to constructive, data-driven dialogue throughout rulemaking and to collaborating on pragmatic implementation—particularly on transitional arrangements, cross-border interoperability and supervisory clarity that can reduce compliance burden while strengthening controls. GDF also welcomes Treasury’s emphasis on public input and iterative engagement reflected in this ANPRM.
This draft response reflects the input of GDF members across the digital assets industry and seeks to provide constructive feedback to Treasury on areas where further clarification, proportionality, and technical considerations may be useful.
Submitted 04/10/25