WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) has announced a 90-day extension to the comment period on its notice of proposed rulemaking (NPR), which aims to implement the application provisions under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). This move gives FDIC-supervised state nonmember banks and state savings associations additional time to respond to the issues raised by the NPR.
The original deadline for public comments was set for February 17, 2026. However, in a bid to ensure thorough consideration of the proposal, the FDIC has extended it to May 18, 2026. This decision reflects the agency’s commitment to fostering a comprehensive and inclusive regulatory process.
Under the GENIUS Act, payment stablecoins are defined as digital currencies that are designed to maintain a stable value over time, often pegged to a fiat currency or basket of commodities. The proposed rulemaking seeks to establish clear guidelines for FDIC-supervised institutions seeking to issue these digital assets through a subsidiary.
The extension of the comment period is expected to provide stakeholders with ample opportunity to weigh in on the potential impact of the regulations on the financial industry and consumer protection. Critics have raised concerns about the risks associated with the rapid growth of stablecoins, particularly regarding their regulatory status and potential for misuse.
As part of its ongoing efforts to safeguard the stability and soundness of the banking system, the FDIC emphasizes the importance of a well-considered approach to regulating payment stablecoins. The agency invites all interested parties to submit comments on the proposed rulemaking via email at MediaRequests@fdic.gov.
For more information on the notice of proposed rulemaking and the extension of the comment period, please refer to the following attachments:
- Notice of Proposed Rulemaking: Approval Requirements for Issuance of Payment Stablecoins by Subsidiaries of FDIC-Supervised Insured Depository Institution
- Federal Register Notice: Extension of Comment Period Through May 18, 2026
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Key Facts
- Agency: FDIC
- Category: Financial Regulation|Crypto News
- Source: Official Source ↗
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