Regulators Miss GENIUS Act Deadline as USDT’s U.S. Distribution Clock Starts Ticking

The Treasury Department and principal federal stablecoin regulators reached the GENIUS Act’s July 18, 2026 rulemaking deadline without completing the required final regulations. The missed deadline does not automatically postpone the statute’s effective-date mechanics or its July 18, 2028 restriction on U.S. service providers offering stablecoins that lack permitted-issuer status or an eligible foreign-issuer pathway. That creates material compliance and listing uncertainty for offshore-issued USDT, although Tether says USDT is progressing toward compliance and has separately launched federally regulated USA₮ through Anchorage Digital Bank.