The Federal Deposit Insurance Corporation (FDIC) will publish its first regulatory framework for stablecoin issuers this month, implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
The proposal will outline an application process for issuers and establish rules for capital, liquidity, and reserve assets for FDIC-supervised institutions. FDIC Acting Chairman Travis Hill confirmed the timeline in prepared testimony for the House Financial Services Committee.
"The FDIC has begun work to promulgate rules to implement the GENIUS Act; we expect to issue a proposed rule to establish our application framework later this month," Hill stated in the prepared testimony.
The GENIUS Act, signed into law in July 2025, created a federal oversight structure for stablecoins, dividing responsibilities between the FDIC, the Federal Reserve, and the Treasury Department. This initial FDIC proposal is one of the first concrete steps to execute the legislation.
The agency's move follows years of regulatory uncertainty for stablecoin issuers in the U.S. The goal is to integrate digital assets into the traditional financial system while mitigating risks seen in past depeggings.
A second proposal detailing prudential standards for issuers is expected in early 2026. The current proposal will enter a public comment period after its release.
