Blockchain Association Pushes Treasury to Clarify GENIUS Act Rules for DeFi and Foreign Stablecoins

The stablecoin market was worth about $301.5 billion on October 20, 2026, and USDT accounted for roughly 60.7% of it, according to DefiLlama . That concentration gives unusual weight to a seemingly technical question now before the US Treasury Department: when, and under what conditions, can platforms continue to make foreign-issued stablecoins available? The Blockchain Association’s 26-page comment letter asks Treasury to narrow and clarify key terms in its GENIUS Act work, covering digital asset service providers, foreign stablecoin issuers and prohibited yield arrangements. The industry group is not simply seeking an abstract assurance of regulatory clarity. Its intervention targets the points at which implementation could determine which businesses fall within the regime, which products platforms can offer, and how quickly foreign issuers must adjust.

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