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FDIC acting chair Travis Hill will inform the House Financial Services Committee that the regulator plans to propose how it will app<\/a>ly the GENIUS Act this month.<\/p>\n The US Federal Deposit Insurance Corporation will propose a framework for implementing US stablecoin laws later this month, according to its acting chair, Travis Hill.<\/p>\n \u201cThe FDIC has begun work to promulgate rules to implement the GENIUS Act; we expect to issue a proposed rule to establish our application framework later this month,\u201d Hill said in prepared testimony<\/a> to be delivered on Tuesday to the House Financial Services Committee.<\/p>\n He added the agency will also have a \u201cproposed rule to implement the GENIUS Act\u2019s prudential requirements for FDIC-supervised payment stablecoin issuers early next year.\u201d<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n