FDIC to Propose GENIUS Act Implementation Rules by December

The Federal Deposit Insurance Corporation will propose initial implementation rules for the GENIUS Act by the end of December, FDIC acting chair Travis Hill said in prepared remarks for a House Financial Services Committee hearing on Tuesday. The agency has begun drafting rules to establish an application framework for stablecoin issuers and intends to introduce prudential requirements for payment stablecoin issuers under FDIC supervision in early 2026. The FDIC is also developing guidance on the regulatory status of tokenized deposits, following recommendations from the Presidential Working Group on Digital Asset Markets.