US officials sat down with their British counterparts in London last week to walk through the GENIUS Act framework, the centerpiece of Washington's approach to regulating stablecoins. The 13th Financial Regulatory Working Group meeting on August 4 marked the first formal briefing on how the law will reshape the sector once it takes effect.
The timeline has shifted. Agencies missed the July 18 deadline to finalize the rules, pushing full implementation into early 2027. That gap matters because stablecoin issuers still don't know exactly what reserve requirements, custody rules, or redemption guarantees they'll face when the hammer falls.
BlackRock moves first
While regulators hash out details, major financial players are already positioning themselves. BlackRock just launched two tokenized money market funds designed specifically to qualify as GENIUS Act-compliant reserves. The move signals confidence that these instruments will become the backbone of stablecoin backing once the rules go live. The broader stablecoin market itself has ballooned to a record $323 billion in total value, making the regulatory clarity a high-stakes issue for the entire digital asset space.
The UK briefing suggests both governments are moving toward alignment on stablecoin governance. Britain has its own stablecoin framework in development, and these regulatory working group meetings are where transatlantic crypto policy gets hammered out.
This article is informational only and should not be considered financial or investment advice. Regulatory landscapes remain fluid and subject to change.