Public comment closes this week on US Treasury stablecoin rule and SEC crypto offering proposal

Public comment periods on two US federal crypto rule proposals close this week, according to the Federal Register.

Comments on the Treasury Department’s proposed rule implementing section 3 of the GENIUS Act, the US payment stablecoin law signed in July 2025, are due on 19 October, US time. The proposal, published on 18 August under docket TREAS-DO-2026-0496, covers the law’s prohibitions and limits on issuing, offering and selling payment stablecoins in the United States.

The Securities and Exchange Commission’s proposed “Regulation Crypto Assets” (File No. S7-2026-27), published in the Federal Register on 21 August, has a comment deadline of 20 October, US time.

According to the SEC’s summary, it would create two exemptions from Securities Act registration for certain investment contracts involving crypto assets: one for offerings of up to $US5 million over a four-year period, and one for up to $US75 million in each 12-month period. Issuers would have to provide narrative disclosures to investors, and those using the larger exemption would also have to provide financial statements and file ongoing reports. Issuers would remain subject to the anti-fraud provisions of federal securities law.

The proposal also includes a conditional safe harbour: a crypto asset that meets its conditions would be deemed not to be subject to an investment contract for the purposes of the legal definitions of “security”.

Both are proposals. Each agency would have to adopt a final rule before the changes take effect.