The U.S. Federal Deposit Insurance Corporation (FDIC) will vote on proposed stablecoin rules on April 7, 2026. The proposal will cover capital requirements and prudential standards for state-level issuers of stablecoins with less than $10 billion in supply, complementing previous rule-making efforts. This action is part of a broader regulatory push to implement the GENIUS Act by its July 18, 2026 deadline.
The FDIC is scheduled to vote on a new proposal setting capital and operating standards for state-level stablecoin issuers. This separate guideline will address prudential standards for issuers handling a stablecoin with less than $10 billion in supply.
The upcoming rules complement a proposal floated in 2025, which outlined application procedures for prospective issuers. That earlier proposal included a 30-day review window and a 120-day final decision period.
Stakeholder feedback for the December proposal was initially set to end in February but was extended to May. The FDIC’s move follows recent Treasury Department guidelines establishing a two-tiered framework for stablecoin oversight.
The Treasury’s framework mandates the FDIC to oversee issuers with a stablecoin supply of $10 billion or below. If a stablecoin’s supply grows beyond $10 billion, oversight automatically graduates to the federal level under the Office of the Comptroller of the Currency.
Banking regulators, including the Federal Reserve, are collaborating to harmonize these stablecoin standards. Fed Governor Michael Barr has insisted on quality reserve assets, warning of a ‘long, painful history’ of private money and bank runs in the 1800s.
This regulatory activity aims to meet the implementation deadline for the GENIUS Act, which was passed into law last year. Lawmakers set July 18, 2026, as the deadline for the act’s full implementation.
Potential issuers are preparing for the new regulatory landscape as clear rules emerge. For instance, Tether has tapped Big Four accounting firms to enhance transparency as it seeks expansion into the United States.
