Odaily Planet Daily reports: One year ago, U.S. President Donald Trump signed the "Guiding and Establishing National Innovation for U.S. Stablecoins Act" (GENIUS Act), marking the first step by the United States to establish a federal regulatory framework for stablecoins. The GENIUS Act requires federal regulatory agencies to develop governance rules for stablecoins, covering reserve requirements, governance, and operational standards. Detailed regulations are still being developed by agencies such as the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.
GENIUS Act Takes Effect One Year Later, U.S. Regulators Still Developing Stablecoin Rules
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Summary
This month marked the first anniversary of the GENIUS Act, but stablecoin regulation is still underway. U.S. regulators have not yet finalized rules on reserve requirements and operational standards for stablecoin issuers. Agencies such as the OCC and FDIC are leading these efforts, with CFTC concerns influencing part of the regulatory focus. The act remains the U.S.’s first federal framework for stablecoins.
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