FDIC Advances GENIUS Act Framework for Stablecoin Oversight
The Federal Deposit Insurance Corp. (FDIC) is poised to unveil its first regulatory proposal under the GENIUS Act this month, marking a pivotal step toward federal oversight of stablecoin issuers. Acting Chair Travis Hill confirmed the timeline in prepared testimony for a House Financial Services Committee hearing, signaling a coordinated push with the Federal Reserve and Treasury to establish prudential standards by 2026.
The initial framework will outline licensing requirements and capital rules for issuers, enforcing the Trump-era mandate that stablecoin operators obtain state or federal approval. This MOVE crystallizes Washington's ambition to bring cryptocurrency's most widely used payment instruments under traditional banking safeguards.
