Based on BitJie, U.S. Rep. Bryan Steil urged regulators at a House Financial Services Committee hearing on Tuesday to expedite the implementation of the GENIUS Act, which mandates that related rules be finalized within one year of the law's enactment on July 18. Steil emphasized the importance of meeting the 2026 deadline, citing past instances where legislation passed without timely regulatory follow-up. The FDIC, OCC, NCUA, and FDIC are all working on rulemaking, with the FDIC planning to propose a framework this month. The law requires stablecoins to be fully backed by U.S. dollars or similar liquid assets and mandates annual audits for issuers with over $500 billion in market value.
U.S. Lawmaker Urges Regulators to Finalize Stablecoin Rules by 2026 Deadline
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