The move follows passage of the GENIUS Act last month, which established a federal regulatory framework for stablecoins.

The U.S. Treasury Department has opened a public consultation on new methods for detecting illicit activity in digital assets. The move follows passage of the GENIUS Act last month, which established a federal regulatory framework for stablecoins.

Treasury Secretary Scott Bessent emphasized the benefits of dollar-backed tokens: “Stablecoins will expand dollar access for billions globally and lead to a surge in demand for U.S. Treasuries,” he said Monday.

The GENIUS Act requires full dollar reserves and annual audits for stablecoin issuers exceeding a $50 billion market cap. Public feedback is requested on the role of…