US agencies miss GENIUS Act deadline for stablecoin rules
US agencies miss GENIUS Act final stablecoin rules after Saturday’s one-year deadline, leaving the federal framework without finalized implementing regulations. Regulators including Treasury, the OCC, the FDIC and the Federal Reserve issued proposed rules and gathered feedback, but no final rules were published. Agencies released 10 proposed rulemakings instead, prolonging uncertainty for stablecoin issuers. Follow more coverage in our Fintech & Crypto Alerts section as the federal stablecoin playbook takes shape.
Key Takeaways
- US agencies miss GENIUS Act final rules after the one-year statutory deadline, according to Cointelegraph.
- Federal regulators issued 10 notices of proposed rulemaking instead of finalized implementing regulations.
- Treasury, the OCC, the FDIC, the Federal Reserve and the NCUA advanced proposals but no final rules before the cutoff.
- Missing the deadline does not invalidate the GENIUS Act, though unfinished rules may heighten issuer uncertainty.
- Anchorage Digital used the anniversary to urge Congress to pass the broader CLARITY Act market-structure bill.
What does it mean when agencies miss GENIUS Act rules?
US regulatory agencies missed the rulemaking deadline under the Guiding and Establishing National Innovation for US Stablecoins Act on Saturday, one year after the law was signed.
Several agencies published proposed rules and collected public feedback during the past year, but no final regulations were issued before the deadline, Cointelegraph reported.
The GENIUS Act created the first comprehensive federal regulatory framework for stablecoins in the United States. President Donald Trump signed it into law on July 18, 2025.
Which agencies floated proposals instead of final rules?
Rulemaking trackers cited by Cointelegraph from law firm Chapman and crypto investment firm Paradigm show Treasury, the OCC, the FDIC and the Federal Reserve Board issued proposed rules without finishing final rules.
Federal regulators issued 10 notices of proposed rulemaking in the year since enactment, according to Paradigm. Treasury alone issued four proposals covering broader implementation, including whether state stablecoin regimes are similar to the federal framework, registration for foreign issuers and anti-money laundering compliance guidelines.
The OCC issued two NPRMs on nationally chartered payment stablecoin issuers, approvals and supervisory standards. The FDIC issued one NPRM for FDIC-supervised institutions focused on supervisory expectations and operational standards such as reserve management.
The National Credit Union Administration proposed rules enabling federally insured credit unions to take part in stablecoin issuance. Federal banking agencies also jointly proposed an interagency implementation rule to harmonize supervision across the OCC, Federal Reserve and FDIC.
Does a missed deadline invalidate the GENIUS Act?
Missing the statutory deadline does not invalidate the GENIUS Act. Still, unfinished rules may leave stablecoin issuers navigating regulatory uncertainty while proposals remain unfinished.
Separately, federally chartered crypto bank Anchorage Digital renewed its call for Congress to pass the Digital Asset Market Clarity Act, arguing clear market-structure rules that worked for stablecoins should extend to the broader digital asset economy.
The CLARITY Act cleared the Senate Banking Committee in May. Banking groups later pressed Senate leaders for more detail on stablecoin yield provisions, and Galaxy Digital cut its odds of the bill becoming law in 2026 to 50% on June 26, citing a narrowing legislative window.