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 means of ready remarks scheduled for supply to the Home Monetary Companies Committee.
Hill highlighted that the FDIC will launch two key proposals: one to stipulate the applying course of below the GENIUS Act this month, and one other to implement requirements for FDIC-regulated stablecoin issuers in 2026.
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These requirements will handle capital ranges, liquidity, and the diversification of reserve belongings.
The FDIC, below the GENIUS Act, signed into legislation by President Donald Trump in July, is accountable for overseeing stablecoin issuance by the subsidiaries of economic establishments below its supervision.
The FDIC can also 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 growing additional guidelines addressing capital, liquidity, and reserve diversification for issuers topic to the GENIUS Act.
The upcoming listening to earlier than the Home Monetary Companies Committee will even function remarks from prime officers on the Workplace of the Comptroller of the Forex and the Nationwide Credit score Union Administration.
SEC Commissioner Hester Peirce reaffirmed that holding cryptocurrency privately, often known as self‑custody, is a primary particular person proper and aligns with foundational US freedom ideas. Why? Learn the complete story.
