The Treasury Department published an interim final rule establishing the forms and procedures used by a federal committee that reviews state stablecoin regulatory regimes. The Genius Act allows payment stablecoin issuers with a consolidated total outstanding issuance of less than $10 billion to opt for regulation under a state-level regulatory regime, provided that the state’s regime is “substantially similar” to the federal regulatory framework. To make those determinations, the bill created the Stablecoin Certification Review Committee. .