The U.S. Federal Deposit Insurance Corp. Acting Chair Travis Hill said the agency plans to propose rules this month to establish a framework for implementing the GENIUS Act.
“The FDIC has begun work to promulgate rules to implement the GENIUS Act,” Hill said in prepared testimony for a House Financial Services Committee hearing on oversight of prudential regulators. “We expect to issue a proposed rule to establish our application framework later this month and a proposed rule to implement the GENIUS Act’s prudential requirements for FDIC-supervised payment stablecoin issuers early next year.”
The GENIUS Act, or the Guiding and Establishing National Innovation for U.S. Stablecoins Act, creates a federal regulatory framework for stablecoin issuers. President Donald Trump signed it into law in July.
The act designates various federal and state bodies to regulate the stablecoin sector. The Tuesday hearing featured testimony from top officials at the FDIC, Federal Reserve, Office of the Comptroller of the Currency and National Credit Union Administration.
The FDIC, as the federal agency that insures deposits and supervises banks, will supervise and license subsidiaries of FDIC-supervised institutions that seek to issue stablecoins, according to Hill’s statement.
The agency is also required to establish capital requirements, liquidity standards and reserve asset diversification standards for stablecoin issuers.
Hill’s testimony also noted that the FDIC is developing guidance on the regulatory status of tokenized deposits, following recommendations from the President’s Working Group on Digital Asset Markets report issued in July.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
