8 stories about Genius Act from across the crypto press, curated and summarized daily. Most recent: Aug 20, 2026.
The Office of the Comptroller of the Currency (OCC) is rushing to finalize stablecoin regulations by November, following the GENIUS Act signed by President Trump. These rules will impact how banks and fintech companies handle stablecoin transactions, ensuring compliance with new federal standards.
The U.S. Treasury Department has proposed rules to define key terms and jurisdictions for stablecoins under the GENIUS Act, a law passed by Congress last year. The proposal seeks to clarify which federal agencies oversee stablecoins and what qualifies as a stablecoin, with a 60-day public comment period before finalization.
US federal agencies missed the July 19, 2026 deadline set by the GENIUS Act to finalize stablecoin regulations, issuing 10 proposed rules instead. The delay leaves the stablecoin market in regulatory limbo, creating uncertainty for businesses and consumers.
Tether's USDT stablecoin faces a two-year countdown as the GENIUS Act's regulations will be fully enforced by July 2028, threatening its availability on U.S. crypto platforms. The act, which marked its first anniversary this week, has yet to see regulators meet deadlines for writing the necessary rules.
Federal Reserve Chair Kevin Warsh stated that the Fed will not rescue failing crypto firms, emphasizing that the industry must manage its own risks. This comes as regulators work on finalizing rules under the GENIUS Act.
Fidelity has introduced a new money market fund that invests exclusively in assets permitted for stablecoin issuers under the GENIUS Act. This move aims to provide stablecoin issuers with compliant, high-quality reserve options.
The Federal Reserve and other U.S. agencies want stablecoin providers to collect customer identification similar to banks. The proposed rule is now open for public comments, with a 60-day window to submit feedback.
The New York Department of Financial Services (NYDFS) has proposed new stablecoin regulations that align with the federal GENIUS Act. The rules include reserve concentration limits and mandatory risk management programs to enhance stability and transparency.