Based on Bijié Wǎng, U.S. regulators are advancing rulemaking for the recently enacted GENIUS Stablecoin Act, with multiple agencies, including the FDIC, planning to submit proposals this month. The act requires stablecoin issuers to maintain sufficient liquid assets and mandates annual audits for large issuers. During a House hearing, regulators pledged to meet the July 18, 2025, deadline for implementation, with initial rules for issuer applications expected. Meanwhile, Congress continues efforts to pass comprehensive cryptocurrency legislation, though disputes over conflicts of interest remain.
U.S. Regulators Push to Finalize Stablecoin Rules by July 2025 Deadline
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