The GENIUS Act has hit its first anniversary without U.S. regulators yet meeting deadlines to write regulations, though rules will be in full effect by July 2028.

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

US federal regulators failed to finalize stablecoin rules by the GENIUS Act's July 18, 2026 deadline, leaving issuers in compliance limbo.