Key Details of the Upcoming Framework

The Federal Deposit Insurance Corporation (FDIC) has confirmed its intention to publish its inaugural stablecoin regulatory framework under the GENIUS Act before the end of the current month. Acting Chair Travis Hill outlined this plan in testimony submitted to the House Financial Services Committee. He stated that the forthcoming proposal will clearly define the process through which issuers can obtain federal approval for stablecoins.

Objectives and Interagency Coordination

The draft framework is set to introduce specific capital, liquidity, and reserve requirements for stablecoins issued by banks. Mr. Hill emphasized that the FDIC's objective is to foster regulatory clarity without impeding innovation. This approach aligns with the views of pro-crypto lawmakers who consider stablecoins vital for enhancing the United States' payment infrastructure. The FDIC is actively coordinating with the Federal Reserve and the Treasury Department, who are concurrently preparing guidance for non-bank issuers and tokenized deposits. This interagency alignment is considered a crucial step in synchronizing the broader digital-asset regulatory landscape.

Public Comment and Future Guidance

Following the release of the draft framework, the agency plans to open a public comment period. After this period, the FDIC will refine the details of the framework and establish phased implementation timelines. Additional technical guidance is anticipated in early next year as interagency standards are further synchronized.