The US Federal Deposit Insurance coverage Company (FDIC), led by performing chair Travis Hill, introduced plans to ship a proposed framework in December on the way it will implement the GENIUS Act.
The proposal was shared by way of ready remarks scheduled for supply to the Home Monetary Providers Committee.
Hill highlighted that the FDIC will launch two key proposals: one to stipulate the applying course of underneath the GENIUS Act this month, and one other to implement requirements for FDIC-regulated stablecoin issuers in 2026.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
Can Russia Use Crypto to Bypass Sanctions? (Animated)
These requirements will handle capital ranges, liquidity, and the diversification of reserve property.
The FDIC, underneath the GENIUS Act, signed into legislation by President Donald Trump in July, is liable for overseeing stablecoin issuance by the subsidiaries of economic establishments underneath its supervision.
The FDIC can be contemplating steerage on tokenized deposits.
In the meantime, the Federal Reserve’s vice chair for supervision, Michelle Bowman, is coordinating with different banking regulators. They’re creating additional guidelines addressing capital, liquidity, and reserve diversification for issuers topic to the GENIUS Act.
The upcoming listening to earlier than the Home Monetary Providers Committee can even characteristic remarks from high officers on the Workplace of the Comptroller of the Foreign money and the Nationwide Credit score Union Administration.
SEC Commissioner Hester Peirce reaffirmed that holding cryptocurrency privately, also referred to as self‑custody, is a fundamental particular person proper and aligns with foundational US freedom ideas. Why? Learn the complete story.
