US lawmakers urge regulators to implement stablecoin regulations by the July 2026 deadline
2025-12-02 22:56:01
The GENIUS Stablecoin Act passed this summer in the United States has entered the implementation phase, and federal regulators are moving forward with the development of supporting rules, with the goal of completing them by July 18, 2026. During the hearing, Rep. Bryan Steil urged regulators to "complete it on time" to avoid long delays in the introduction of regulations. The FDIC said it will propose draft rules related to GENIUS this month, and the NCUA said the first rule may be the application process for stablecoin issuers. GENIUS requires stablecoins to be fully backed by US dollars or highly liquid assets, and requires annual audits for issuers with a market capitalization of more than $50 billion. During the hearing, Democratic Congressman Maxine Waters also questioned the potential conflict of interest of President Donald Trump's involvement in crypto projects.
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