US federal agencies missed the GENIUS Act’s deadline to finalize stablecoin regulations, issuing 10 proposed rules during the law’s first year instead.

The GENIUS Act proved America could regulate stablecoins without killing innovation. The CLARITY Act is the test for the rest of crypto.

The delay does not postpone the law’s Jan. 18, 2027 effective date, leaving regulators and stablecoin issuers with a compressed implementation window.