U.S. FDIC Chief Says First GENIUS Act Regulations Heading for Proposal This Month

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email U.S. FDIC Chief Says First GENIUS Act Regulations Heading for Proposal This Month FDIC Acting Chairman Travis Hill is set to testify at a House hearing that his agency is ready to propose a stablecoin application rule before the month is out. By Jesse Hamilton | Edited by Nikhilesh De Dec 1, 2025, 10:51 p.m. FDIC Acting Chairman Travis Hill The acting chief of the U.S. Federal Deposit Insurance Corp. said the banking regulator expects to start proposing rules for stablecoin issuers before the close of December, according to testimony Travis Hill is preparing to deliver Tuesday before the House Financial Services Committee. First up on the regulator's agenda for implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act : issuing a proposal for how the agency will handle issuers that apply for federal oversight. STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . "The FDIC has begun work to promulgate rules to implement the GENIUS Act; we expect to issue a proposed rule to establish our application framework later this month and a proposed rule to implement the GENIUS Act’s prudential requirements for FDIC-supervised payment stablecoin issuers early next year," according to Hill's prepared testimony. The GENIUS Act contemplates an array of federal and state entities taking part in the supervision of the stablecoin sector. After figuring out the application process, the FDIC, which regulates deposit insurance and oversees thousands of banks, has to write rules for capital requirements for the regulated banks that want to issue stablecoins. It's also responsible for liquidity standards and for regulating the quality of reserves issuers set aside. A federal agency working on such rules must make a proposal that's open to public comments for a period of time, usually lasting months. Once the comments are reviewed, the regulator can then issue a final version in which the new system is generally set up to go into effect over a long period of time. Other agencies, including the Department of the Treasury , have also been working on their portions of GENIUS Act duties. Hill also touched on other regulatory priorities in his testimony. In light of recommendations in a report from the President’s Working Group on Digital Asset Markets earlier this year, the FDIC is also "currently developing guidance to provide additional clarity with respect to the regulatory status of tokenized deposits," Hill said. The House hearing on Tuesday will also receive testimony from other bank and credit union regulators, including the Federal Reserve. In the past couple of years, crypto has been a common topic of discussion whenever congressional panels have financial regulators before them. Federal Reserve Vice Chair for Supervision Michelle Bowman said the central bank was working "to develop capital, liquidity, and diversification regulations for stablecoin issuers as required by the GENIUS Act" in her own prepared testimony. FDIC Federal Reserve Stablecoins More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month. Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B. View Full Report More For You U.S. House Lawmakers Detail Grievances Over Government's 'Choke Point 2.0' By Jesse Hamilton | Edited by Nikhilesh De 5 hours ago French Hill, the chairman of the House Financial Services Committee, issued a report outlining what went on at several U.S. crypto regulators in past years. What to know : The House Financial Services Committee, led by Republican French Hill, released a report detailing so-called "Operation Choke Point 2.0" that it says systemically resisted U.S. crypto policy. Agencies including the Securities and Exchange Commission and Federal Reserve got in the way of digital assets advancement in the U.S. during the Biden administration, according to the report, which highlights examples of anti-crypto actions. Read full story Latest Crypto News Vanguard Opens Platform to Crypto ETFs in Major Shift: Bloomberg 43 minutes ago Seller Exhaustion or a Bottom? Strategy Gains 11% From Session's Worst Levels 1 hour ago Kalshi Launches Tokenized Event Bets on Solana Blockchain: CNBC 2 hours ago Bitnomial Prepares to Debut First CFTC-Regulated Spot Crypto Market 4 hours ago JPMorgan and Strike CEO Jack Mallers Go Silent, Leaving 'Debanking' Questions Unanswered 5 hours ago U.S. House Lawmakers Detail Grievances Over Government's 'Choke Point 2.0' 5 hours ago Top Stories Vanguard Opens Platform to Crypto ETFs in Major Shift: Bloomberg 43 minutes ago Seller Exhaustion or a Bottom? 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