US Treasury Allows States to File for Stablecoin Regime Approval Before Finalizing Rules

The US Treasury issued an interim final rule on September 30 establishing procedures for the Stablecoin Certification Review Committee to evaluate state stablecoin regimes. States may now submit initial certifications even if their regulatory frameworks are incomplete, provided they complete the requirements before substantive review. This flexibility applies to issuers with up to $10 billion in outstanding payment stablecoins. Conditional filings can be amended and do not trigger the Committee's 30-day review clock, which only begins once a full, unconditional attestation is submitted. The rule is effective immediately, though formal acceptance of filings awaits Paperwork Reduction Act approval.