The U.S. Department of the Treasury is a state-owned entity established in 1789. Its primary function is government administration, encompassing a range of responsibilities related to the nation's finances. The department employs approximately 11,480 people and is headquartered in the United States.
The Department of the Treasury issued an advance notice of proposed rulemaking (ANPRM) to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, opening a 30-day public comment period following publication in the Federal Register. The Department subsequently opened a second period for public comment on the implementation of the GENIUS Act legislation. These actions follow the GENIUS Act's enactment into law by President Trump. President Trump also reported progress on various bilateral issues with China, including TikTok, during a phone call with Xi Jinping, and announced plans for a fall meeting and a trip to China early next year.
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