U.S. regulators reached the GENIUS Act’s one-year rulemaking deadline on Saturday without issuing the final regulations needed to fully implement the country’s new federal stablecoin framework.
As of Saturday afternoon, the principal rule packages issued by the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA) and Treasury Department remained proposals. Other rules involving the Federal Reserve and federal anti-money laundering authorities are also unfinished, with some still open for public comment.
President Donald Trump signed the GENIUS Act, or the Guiding and Establishing National Innovation for U.S. Stablecoins Act, into law on July 18, 2025, marking the first major standalone federal crypto framework to clear Congress. The law established reserve, redemption, disclosure, licensing and supervisory requirements for payment stablecoin issuers.
Section 13 of the enacted statute directed each primary federal payment stablecoin regulator — the OCC, Federal Reserve, FDIC and NCUA — along with the Treasury secretary and each state stablecoin regulator, to promulgate implementing regulations through notice-and-comment rulemaking no later than one year after enactment.
