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The FDIC is set to release the first draft of the GENIUS Act stablecoin issuance regulation this month.
PANews, December 2 - According to CoinDesk, Travis Hill, acting chairman of the Federal Deposit Insurance Corporation (FDIC), will state at a congressional hearing that the FDIC will release its first draft of the GENIUS Act implementation regarding the federal regulatory application process for stablecoin issuance within this month, and plans to propose subsequent regulatory requirements such as capital and liquidity requirements early next year. Hill also mentioned that the FDIC is developing regulatory guidelines for tokenization deposits.