Key Insights
- The FDIC is preparing new rules for stablecoin oversight under the GENIUS Act and plans to release its proposal this month.
- Federal agencies are coordinating standards for stablecoins and tokenized deposits while expanding guidance for digital-asset activities.
- Implementation will roll out in phases and public feedback will shape final regulatory requirements for issuers.
The Federal Deposit Insurance Corp. is accelerating work on a regulatory framework for stablecoin issuers as the GENIUS Act enters its implementation phase. Acting Chair Travis Hill confirmed that the agency plans to release its initial proposal this month, signalling the start of a new supervisory era for dollar-backed digital assets.
Hill explained that the agency has already begun drafting standards that will guide licensing and supervision for subsidiaries of FDIC-regulated banks seeking to issue payment stablecoins. The GENIUS Act, signed into law in July, tasks the FDIC with creating capital, liquidity, and reserve diversification requirements designed to strengthen confidence in stable-value tokens. These measures, he said, will support a more structured market as token-based payments continue to grow.
Moreover, the FDIC is preparing separate guidance on tokenized deposits. The effort responds to recommendations from the President’s Working Group on Digital Asset Markets, which called for unified guardrails for bank-issued digital liabilities. The agency stressed that tokenized deposit guidance will remain distinct from the stablecoin rulemaking, but both initiatives share an objective of tightening controls around digital representations of money.
Regulators Expand Work On Digital-Asset Safeguards
Other federal bodies are moving at the same pace. The Federal Reserve is developing complementary rules that address capital and asset diversification for stablecoin issuers, reducing the risk of concentrated reserves and improving market integrity. At the same time, the Commodity Futures Trading Commission has rolled out a program allowing certain stablecoins to function within U.S. derivatives markets.
Agencies are expected to testify throughout the coming months on how their respective frameworks will align. The rapid expansion of digital-asset policies suggests a more integrated approach is emerging, even as each regulator responds to its own statutory obligations.
Federal Agencies Prepare Phased Rollout For Market Compliance
Once the FDIC releases its draft rule, the proposal will enter a public comment period that spans several months. Industry groups, consumer advocates, financial institutions, and academics will be invited to weigh in on the framework’s capital requirements, liquidity safeguards, and reserve composition expectations.
The agency intends to incorporate that feedback into the final rule to ensure that the supervisory structure remains both practical and enforceable. Implementation will unfold in stages. Regulators want issuers to have time to realign operations, adjust reserve portfolios, and upgrade compliance systems without disrupting stablecoin usage or market liquidity.
