FDIC to Introduce Stablecoin Regulations Under GENIUS Act

The U.S. Federal Deposit Insurance Corporation (FDIC) plans to propose its first regulations for stablecoin issuers under the GENIUS Act, as announced by Acting Chairman Travis Hill during testimony before the House Financial Services Committee. These proposals aim to establish a regulatory framework for stablecoins, with initial rules outlining the application process for stablecoin issuers and additional requirements including capital standards, liquidity requirements, and reserve asset quality oversight. These initial rules are expected to be finalized early next year.