FDIC to Propose GENIUS Act Rules for Stablecoin Issuers, Marking a New Era of U.S. Stablecoin Regulation

COINOTAG News, citing CoinDesk, reports that Travis Hill, Acting Chairman of the FDIC, is set to inform a House Financial Services Committee hearing that the agency will publish the inaugural rules under the GENIUS Act by December, establishing a formal regulatory framework for stablecoin issuers.

Hill indicated the FDIC has begun drafting prudential requirements for payment stablecoins under its supervision, with a target in late this year and a proposal anticipated in early next year, signaling a clear rulemaking timeline for crypto payments.

Additionally, the agency is developing guidance on the regulatory status of tokenized deposits, in line with recommendations from the President’s Working Group on Financial Markets, aiming to clarify supervision and risk controls for digital-asset representations.