US regulators miss GENIUS Act stablecoin rule deadline
US financial regulators failed to issue final rules for the GENIUS Act stablecoin law by the July 18 deadline, publishing only draft proposals and comment periods.
US regulators have missed the deadline to implement the GENIUS Act, the stablecoin law signed a year ago. The act required the Office of the Comptroller of the Currency (OCC), the Federal Reserve, the FDIC, the National Credit Union Administration (NCUA), and the Treasury Secretary to finalize implementation rules by July 18.
As of the deadline, the responsible agencies had only released draft documents and opened comment windows, with no final rules published. The law gave exactly one year from the date of signing for these rules to be completed.
Source: ForkLog