The Treasury is seeking public opinion under the newly signed (GENIUS Act), aimed at addressing illegal financial risks while shaping the future of digital assets in the U.S.

According to a press release from the government department on Monday, the U.S. Treasury Department is calling for public feedback on how the government can help prevent 'illegal financial risks' associated with digital assets as required by the (GENIUS Act).

The U.S. Treasury Department is implementing the (GENIUS Act).

According to a notice on August 18, the U.S. Treasury Department is seeking comments from the public on how financial institutions can resist the illegal use of cryptocurrency.

The U.S. Treasury stated: 'This request for comments provides an opportunity for interested individuals and organizations to provide feedback on innovative or novel methods, technologies, or strategies that regulated financial institutions use or may use to detect illegal activities involving digital assets.'

'As required by the (GENIUS Act), the Treasury will use public opinion to inform research on effectiveness, cost, privacy, and cybersecurity risks, as well as other considerations related to these tools,' the press release continued.

Scott Bessent shared his views in a new statement.

After the request for comments was announced, U.S. Treasury Secretary Scott Bessent praised the implementation of the (GENIUS Act) as critical for 'ensuring America's leadership in the digital asset space.'

'Stablecoins will expand access to billions of dollars in dollars globally and lead to a surge in demand for U.S. Treasury bonds that support stablecoins,' Bessent said.

'This is a win-win-win for all parties involved: stablecoin users, stablecoin issuers, and the U.S. Treasury,' he added.

Last month, U.S. President Donald Trump signed cryptocurrency legislation into law, which largely reassured major players in the blockchain space.

'Let me say, the entire crypto community, you have been laughed at, dismissed, and excluded for years,' the President continued. 'Just a year and a half ago, you were excluded—but this signing is a huge validation.'

This move reinforces that the (GENIUS Act) is not merely symbolic—it is now becoming the framework for the U.S. digital asset strategy.