FDIC Chief Announces GENIUS Act Rulemaking Schedule
Reading Time: < 1 minute
During a House Financial Services Committee hearing, the FDIC’s acting chair laid out the schedule for implementing the landmark stablecoin law.
Travis Hill testified that a proposed rule to establish the application framework will be issued this month.
A second rule imposing prudential requirements on FDIC-supervised stablecoin issuers will follow early next year. The GENIUS Act, which became law in July, assigns the FDIC a key role in licensing and supervising certain stablecoin issuers.
Follow and like us on
