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GENIUS Act Impacts Stablecoin Businesses
The GENIUS Act has changed the planning process for businesses that issue, distribute, or use stablecoins. Founders now have a federal framework to evaluate their operations, while exchanges and payment companies must consider how the framework affects the tokens they support and the services they provide. The GENIUS Act, enacted July 18, 2025, does not give every business the same three-year transition period. Businesses need to evaluate their operations, counterparties, and implementation deadlines, distinguishing between the earlier effective date of January 18, 2027, and the later restriction on certain offers and sales starting July 18, 2028. Implementation involves both enacted requirements and regulatory proposals.