U.S. FDIC Chief Says First Stablecoin Regulations Heading for Proposal This Month
The FDIC Acting Chairman announced plans to propose initial rules for stablecoin issuers under the GENIUS Act this month.Summary
FDIC Acting Chairman Travis Hill is set to testify that the agency expects to issue a proposed rule this month to establish an application framework for stablecoin issuers seeking federal oversight under the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. Following this, the FDIC plans to propose rules for prudential requirements, including capital and liquidity standards for FDIC-supervised payment stablecoin issuers, early next year. The process involves public comment periods before final rules are established. Additionally, the FDIC is developing guidance on the regulatory status of tokenized deposits, aligning with recommendations from the President’s Working Group on Digital Asset Markets. Other regulators, like the Federal Reserve, are also developing their respective portions of the GENIUS Act requirements.
(Source：CoinDesk)