Acting FDIC Chair Travis Hill confirmed the initiative in remarks made to the House Financial Services Committee
US regulators are preparing to roll out a detailed framework for stablecoin oversight, with the Federal Deposit Insurance Corporation (FDIC) signaling that its proposal could arrive before the end of the month. Acting Chair Travis Hill outlined the timeline in testimony submitted to the House Financial Services Committee, saying the agency is ready to introduce rules tied to the recently enacted GENIUS Act.
Hill noted that the FDIC is developing an application process for stablecoin issuers that fall under its supervision. A second proposal, expected early next year, will outline prudential requirements such as liquidity standards, reserve guidelines, and capital expectations. These rules will shape how banks and their subsidiaries issue payment stablecoins in the US.
The GENIUS Act, signed by President Donald Trump in July, assigned regulatory duties to multiple agencies. The FDIC will oversee bank-affiliated stablecoin issuers, while the Treasury will handle non-bank issuers. The Treasury began collecting public input on its own proposal in August and completed a second comment period last month.
Hill also said the FDIC is reviewing recommendations from the President’s Working Group on Digital Asset Markets. That report suggested clarifying what digital asset activities banks are permitted to engage in, including tokenizing deposits or other assets. The FDIC is now preparing guidance to explain how tokenized deposits fit within the existing regulatory structure.
The Federal Reserve confirmed it is also involved in shaping the new rules. Vice chair for supervision Michelle Bowman said the Fed is working with other banking regulators on capital, liquidity, and diversification requirements for stablecoin issuers. She emphasized the need for clear standards so banks know which digital asset activities are allowed and how they will be monitored.
Leaders from the Office of the Comptroller of the Currency and the National Credit Union Administration are also scheduled to weigh in.
