GENIUS Act Rulemaking Deadline Passes, U.S. Regulatory Framework Still Unfinalized

The OCC, FDIC, NCUA, and Treasury have issued multiple proposed rules, but core requirements—including issuance licensing, capital and liquidity standards, reserve management, redemption procedures, and anti-money laundering measures—remain largely unfinalized. Some documents are still open for public comment.

Industry insiders warn that regulatory delays will continue to create uncertainty for stablecoin issuers in areas such as license applications, bank access, and compliance infrastructure. However, missing the deadline does not immediately ban existing stablecoins or invalidate future rules. The GENIUS Act is set to take full effect no later than January 18, 2027.