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Variant Chief Legal Officer: Currently, there is no stablecoin that meets the "GENIUS" criteria, as the rules themselves have not yet been defined.

Variant Chief Legal Officer: Currently, there is no stablecoin that meets the "GENIUS" criteria, as the rules themselves have not yet been defined.

Chaincatcher2025/09/11 03:32

ChainCatcher News, Variant Chief Legal Officer Jake Chervinsky stated on X that there is currently no so-called "GENIUS-compliant" stablecoin.

Many debates focus on whether existing stablecoins comply with GENIUS, but in reality, the bill itself does not provide specific rules for how issuers can be compliant—it only sets an overall framework, and the details need to be filled in by regulatory agencies through rulemaking. Rulemaking is a massive undertaking, and until these rules are completed, it is impossible to determine whether a particular stablecoin is compliant.

The formulation of rules is not a trivial matter, nor is it something that can be delayed by anyone—GENIUS actually requires 120 days after the rules are finalized before it becomes effective law, with the expected finalization date being July 18, 2026. This means the anticipated effective date for GENIUS is November 15, 2026. Until then, stablecoins will continue to operate under the regulatory approaches of the past one, five, or ten years.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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