The U.S. Department of Treasury announced that they were seeking comment on GENIUS Act Notice of Proposed Rulemaking Concerning State-Level Regulatory Regimes. This NOPR applies to payment stablecoin issuers with a consolidated total outstanding issuance of no more than $10,000,000,000. These issuers can opt for state-level regulation, as long as the state regulation is substantially similar to the federal regulatory framework. The rule proposal establishes principals for making that determination.
Comments are due by June 2, 2026.
Read the announcement.
On January 13, 2026, Paul S. Atkins, Chair of the Securities and Exchange Commission (SEC) published this statement, noting that he has asked the Division of Corporation Finance to conduct a review of Regulation S-K to ensure that the Commission’s corporate disclosure regime only reflect information that a reasonable investor would consider important in making an investment or voting decision. His statement noted that “Regulation S-K currently elicits both material and a plethora of undisputably immaterial information”.
XBRL US commented on potential reforms of Regulation S-K, noting in out letter that we
