US Regulators Miss Key GENIUS Act Deadline as Stablecoin Rules Stall
18 Articles
18 Articles
The New York Ledger
US Agencies Miss GENIUS Act Deadline for Final Stablecoin Rules
US regulatory agencies missed Saturday’s rulemaking deadline under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, one year after the law was signed. While several regulatory agencies published proposed rules and collected public feedback during the past year, no final regulations were issued before the deadline. Those agencies include the Department of the Treasury, the Office of the Comptroller of the Currenc…
U.S. Regulators Miss GENIUS Act Rulemaking Deadline As Stablecoin Framework Awaits Final Rules
U.S. regulators have missed the deadline to finalize rules implementing the GENIUS Act, leaving key stablecoin requirements unfinished. While the law remains in force, issuers, banks, and state regulators must continue preparing for compliance as agencies work to complete the remaining regulatory framework.
What Happens Now That US Regulators Missed the GENIUS Act Deadline?
No emergency rules take effect immediately; stablecoin issuers keep operating under existing state and federal frameworks until new regulations exist. Circle remains unable to secure the federal certification it needs to sell USDC to conservative corporate treasuries. Banks continue avoiding stablecoin reserve deposits because the FDIC has not clarified how those deposits affect capital requirements. The 2028 deadline banning non-compliant stabl…
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