US FDIC Prepares Draft for Stablecoin Regulation under GENIUS Act

The United States Federal Deposit Insurance Corporation (FDIC) is set to release a draft of rules regulating stablecoin issuers, following the passage of the GENIUS Act. FDIC Acting Chairman Travis Hill announced that this proposal will be submitted to the House Financial Services Committee by month’s end. 🎤 This move signifies a significant step towards federal oversight in the expanding stablecoin market.