US lawmakers urge regulators to implement stablecoin regulations before the July 2026 deadline

2025-12-02 22:55:52

[U.S. lawmakers urge regulators to implement stablecoin regulations before the July 2026 deadline] The “GENIUS Stablecoin Act” passed this summer is entering the implementation phase, with federal regulators advancing the formulation of supporting rules, aiming to complete this by July 18, 2026. Congressman Bryan Steil urged regulators at the hearing to “complete on time” to avoid long delays in the issuance of regulations. The FDIC stated that it will propose a draft of the GENIUS-related rules this month, while the NCUA indicated that the first rule may be the application process for stablecoin issuers. The GENIUS Act requires that stablecoins must be fully backed by U.S. dollars or high liquidity assets and mandates annual audits for issuers with a market capitalization exceeding $50 billion. During the hearing, Democratic Congresswoman Maxine Waters also questioned potential conflicts of interest regarding President Donald Trump's involvement in crypto projects.

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