WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) has decided to extend the deadline for institutions to apply under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). In a move aimed at providing ample time for stakeholders to weigh in on proposed rules, the FDIC has pushed back the comment period from February 17, 2026, to May 18, 2026.
The extension comes as the agency works to establish application procedures for payment stablecoins issued by subsidiaries of FDIC-supervised state nonmember banks and state savings associations. The GENIUS Act, passed in 2023, outlines regulatory requirements for institutions seeking to issue payment stablecoins, aiming to foster innovation while mitigating risks.
“The decision to extend the comment period reflects our commitment to a transparent and inclusive rulemaking process,” said FDIC Chair J. Thomas Curry. “We want to ensure that all interested parties have the opportunity to provide feedback on these important rules.”
The proposed regulations would require institutions applying for stablecoin issuance to meet specific criteria, including capital requirements and compliance with anti-money laundering laws. The rulemaking process also seeks to address concerns about consumer protection and financial stability.
“This extension gives the public additional time to engage with the proposed rules and help shape the future of payment technologies in the United States,” Curry added.
The FDIC has also published a notice of proposed rulemaking, outlining approval requirements for issuing payment stablecoins by subsidiaries of insured depository institutions. The document will be available for public comment until May 18, 2026.
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Key Facts
- Agency: FDIC
- Category: Fraud & Financial Crimes|Public Corruption
- Source: Official Source ↗
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