Treasury just put a deadline on offshore stablecoins’ access to US customers

- Treasury just told offshore stablecoins they've got until July 18, 2028 to get their papers in order or vanish from US exchange menus. The GENIUS Act doesn't kill the token on-chain — it just turns every regulated exchange into a border checkpoint. Tether's USDT, the undisputed king of meat wallet liquidity, now has to prove its issuer can freeze and burn on command, or American platforms drop it like a bad hash manifest. Self-custody survives, peer-to-peer survives, but the moment you ask a covered business to help you buy or swap, that's where the friction lives. Treasury even admits this concentrates the market. Of course it does. Nothing says "consumer protection" like shrinking the buy menu to three compliant tokens and calling it choice. The real punchline: they gave everyone 18 months to prepare, as if stablecoin issuers needed more time to figure out whether they can follow a court order.