[Chain News] The US stablecoin regulation is finally about to have substantial actions. FDIC Acting Chairman Travis Hill revealed that the first implementation draft of the GENIUS Act will be unveiled in December, marking the official entry of the federal application process for stablecoin issuance into operational levels.
Hill's statement at the congressional hearing sent a clear signal: the regulatory framework will not be fully in place at once. The first draft focuses on the application process, while the details of hard indicators such as capital adequacy ratio and liquidity coverage will not be released until early 2025. Meanwhile, the FDIC is also advancing another task - developing specific regulatory guidelines for tokenized deposits.
This phased approach strategy is very pragmatic. First, build the framework, then fill in the details, allowing the market time to adapt and giving regulators enough observation window.
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ReverseTrendSister
· 8h ago
Finally, it's getting serious, the draft will be implemented in December. However, I see that this trap's phased approach... the details will only be released next year, for now it's just a framework. Giving the market a breather is also leaving leeway for regulation; when the time comes to change the rules, no one will be able to stop it.
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MerkleTreeHugger
· 8h ago
The draft is coming out in December? This pace is quite fast, but the capital will have to wait until next year... it's a bit like squeezing toothpaste.
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MetaverseLandlord
· 8h ago
Draft in December? Just listening is enough, the real hard indicators will have to wait until next year, this "trap" of "phased" play is really going to be dragged out by the Americans...
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SorryRugPulled
· 8h ago
Another trap? First set the framework and then supplement the details, calling it "pragmatic" sounds nice, but I see it as just stalling for time. Anyway, the draft in December and the details next year, the vegetables will be doomed.
FDIC announced: The stablecoin regulatory draft will be implemented in December, with capital requirement details to be issued next year.
[Chain News] The US stablecoin regulation is finally about to have substantial actions. FDIC Acting Chairman Travis Hill revealed that the first implementation draft of the GENIUS Act will be unveiled in December, marking the official entry of the federal application process for stablecoin issuance into operational levels.
Hill's statement at the congressional hearing sent a clear signal: the regulatory framework will not be fully in place at once. The first draft focuses on the application process, while the details of hard indicators such as capital adequacy ratio and liquidity coverage will not be released until early 2025. Meanwhile, the FDIC is also advancing another task - developing specific regulatory guidelines for tokenized deposits.
This phased approach strategy is very pragmatic. First, build the framework, then fill in the details, allowing the market time to adapt and giving regulators enough observation window.