US Treasury to allow states to file for stablecoin approval before finalizing their rules
The US Treasury Department's interim final rule, effective September 30, allows states to submit conditional certifications for stablecoin regime approval, even if their specific rules are not yet finalized. This flexibility enables states to meet initial filing deadlines while completing legislative or regulatory work. However, substantive approval reviews by the Stablecoin Certification Review Committee will only commence once a complete and unconditional submission is provided. The rule applies to state-qualified payment stablecoin issuers with no more than $10 billion in consolidated outstanding payment stablecoin issuance, provided the state regime meets or exceeds GENIUS Act standards.
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