FDIC Poised to Roll Out US Stablecoin Rule Framework This Month, Acting Chair Confirms

The regulatory dam is about to break. The Federal Deposit Insurance Corporation (FDIC) is gearing up to implement its long-awaited framework for stablecoin rules in the United States, with its acting chair signaling a rollout before the month is out.

A New Rulebook for Digital Dollars

This isn't just another regulatory footnote. The move represents a critical step toward formalizing the legal status of dollar-pegged cryptocurrencies. Expect guidelines that could dictate everything from reserve requirements and redemption policies to the very definition of what constitutes a 'stable' coin. The industry's era of operating in a gray zone is closing.

Why This Timing Matters

The accelerated timeline sends a clear signal: U.S. regulators are no longer content to watch from the sidelines. With global jurisdictions racing to establish their own frameworks, the FDIC's action is a bid for relevance and control. It's a classic Washington move—arrive late to the party, then try to set the house rules.

The Institutional Green Light

For traditional finance, clarity is currency. A formal rulebook from a heavyweight like the FDIC cuts through the uncertainty that has kept many banks and asset managers on the fence. It transforms stablecoins from speculative tech toys into potential infrastructure—paving the way for deeper integration with the legacy financial system, whether that's for settlements, payments, or as a new asset class.

The Bottom Line: Legitimacy Has a Price

Get ready for a shake-up. The coming framework will legitimize the sector but also impose a cost of compliance that could squeeze out smaller players. It’s the financial world's oldest play: first, they ignore you, then they regulate you, and finally, they tax you. Welcome to the main stage.

GENIUS Act Puts FDIC in Charge of Bank-Issued Stablecoins

The GENIUS Act, signed into law in July by President Donald Trump, created a multi-agency oversight structure for dollar-backed stablecoins.

Under the legislation, the FDIC will supervise the stablecoin-issuing subsidiaries of the banks and firms it already regulates, while other agencies take responsibility for different corners of the market.

Hill said the FDIC’s job will go well beyond paperwork. The agency is tasked with defining capital requirements, liquidity rules and diversification standards for reserve assets, measures aimed at ensuring that issuers can meet redemptions even during market stress.

Like other federal regulators, the FDIC will publish its proposal for public comment before finalizing it, a process that often takes months as agencies sift through industry feedback and, if necessary, revise their approach.

News nugget in FDIC acting chair Travis Hill’s testimony to the House tomorrow:

The FDIC will issue its first proposed rulemaking for the GENIUS Act later this month to “establish our application framework” for stablecoins. So far regulators have only issued an ANPR pic.twitter.com/4DOcDTGPQX

The Treasury Department has already moved ahead on its side of the law.

Officials began their own GENIUS Act implementation work in August and recently closed a second public consultation on how non-bank issuers will be supervised, creating a parallel track of rulemaking that will shape the entire US stablecoin landscape.

Hill also revealed that the agency is working on guidance covering tokenized deposits, echoing recommendations published in July by the President’s Working Group on Digital Asset Markets.

The report urged regulators to clarify which blockchain-based activities are permissible for banks, including the issuance of digital representations of deposits.

The FDIC, he said, is preparing guidance to spell out how tokenized deposits should be treated under existing banking rules, an area that has drawn growing interest from lenders experimenting with blockchain infrastructure for payments and settlement.

Federal Reserve Joins the Effort

The Federal Reserve is also coordinating with other regulators on the stablecoin rulebook.

In separate remarks prepared for the same hearing, vice supervision chair Michelle Bowman said the central bank is working with peers to design capital and liquidity standards meant to anchor the sector to the traditional financial system.

Bowman emphasized the need for regulatory clarity not only on what banks are allowed to do with digital assets but also on how supervisors respond to new use cases as they emerge.

Alongside the FDIC and the Federal Reserve, representatives from the Office of the Comptroller of the Currency and the National Credit Union Administration are also due to testify, underlining how widely the new rules will reshape oversight of digital dollars in the US.