US Banking Regulator Takes Lead, Crafting First Rules Under New Stablecoin Law

The FDIC is taking the lead in translating the GENIUS Act into enforceable regulations for the US stablecoin market.

Acting Chair Travis Hill announced the agency plans to propose its implementation framework this very month. This initial step will be followed by a proposed rule on safety-and-soundness requirements for relevant issuers early next year.

The law designates the FDIC to license and oversee stablecoin operations within the banking institutions it supervises.