Treasury will let states file for stablecoin approval before finishing their rules
Summary
Treasury’s Sept. 30 interim rule lets states file conditional or incomplete initial certifications for their stablecoin regimes while they finish legislative or regulatory work. Such filings preserve the initial deadline but do not trigger substantive review or the committee’s 30-day decision period. Full review requires an unconditional attestation and supporting legal materials, and approval depends on meeting federal standards and unanimous committee approval. The rule’s procedures take effect Sept. 30, but Treasury will not accept filings until paperwork approval. Initial certifications are expected by Jan. 18, 2028, subject to the GENIUS Act taking effect; comments are due Nov. 30.
