The law takes effect on January 18, 2027, or 120 days after the approval of the new rules. Starting July 18, 2028, crypto service providers will be prohibited from offering and selling payment stablecoins from unlicensed issuers in the United States.
At the same time, the Treasury plans to clarify the rules for when a stablecoin is considered “issued” in the United States. In addition, officials will clearly define the signs of offering and selling such assets to Americans. The restrictions may also affect service providers trading foreign payment digital coins. Foreign companies are required to fully comply with U.S. legal norms and bilateral agreements.
However, the regulator will establish clear rules only after consulting with crypto companies. They will have 60 days to submit proposals for developing the regulatory framework.