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U.S. Treasury Seeks Public Input on Addressing Cryptocurrency Risks in Accordance with the GENIUS ACT
The U.S. Treasury is inviting the public to share insights required by the GENIUS Act regarding how the government might assist in mitigating “illicit finance risks” associated with digital assets, as stated in a press release from the government department on Monday.
U.S. Treasury Activates The GENIUS Act
As per the notice dated August 18, the U.S. Treasury is requesting feedback from interested members of the public on how financial institutions can combat unlawful cryptocurrency usage.
Today, Treasury issued a Request for Comment mandated by the GENIUS Act, which advances the Administration’s policy of promoting the responsible development and utilization of digital assets, as detailed in President Trump’s Executive Order on “Strengthening American Leadership in Digital…
— Treasury Department (@USTreasury) August 18, 2025
“This request for comment provides an opportunity for interested individuals and organizations to offer insights on innovative or novel methods, techniques, or strategies that regulated financial institutions employ, or could potentially employ, to identify illicit activities involving digital assets,” the U.S. Treasury indicates.
“In accordance with the GENIUS Act, Treasury will utilize public comments to guide research on the effectiveness, costs, privacy and cybersecurity risks, and other factors related to these tools,” the press release adds.
Scott Bessent Offers His Perspective In New Statement
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In response to the announcement of the request for comment, U.S. Treasury Secretary Scott Bessent emphasized that the implementation of the GENIUS Act is “crucial” for “maintaining American leadership in digital assets.”
Implementing the GENIUS Act is crucial to maintaining American leadership in digital assets.
Stablecoins will broaden dollar access for billions worldwide and result in increased demand for U.S. Treasuries, which support stablecoins.
It’s a win-win-win for all parties involved:… https://t.co/p5nRQpBfnw— Treasury Secretary Scott Bessent (@SecScottBessent) August 18, 2025
“Stablecoins will broaden dollar access for billions worldwide and result in increased demand for U.S. Treasuries, which support stablecoins,” Bessent stated.
“It’s a win-win-win for all parties involved: stablecoin users, stablecoin issuers, and the U.S. Treasury Department,” he remarked.
U.S. President Donald Trump enacted the crypto legislation last month, much to the satisfaction of significant figures in the blockchain industry.
“Let me say, the entire crypto community, for years you were ridiculed and dismissed and counted out,” the president remarked. “You were counted out as recently as a year and a half ago—but this signing is a significant validation.”
This action underscores that the GENIUS Act is not merely symbolic — it is now establishing the foundation for America’s digital asset strategy.
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