BlockBeats News, July 19th. US regulators have failed to meet the one-year deadline to issue the stablecoin implementation guidance required by the GENIUS Act. As of July 18th, key agencies such as the Treasury Department, OCC, FDIC, and NCUA have yet to finalize the rules, with many core aspects still at the proposal or comment solicitation stage.

Among them, the public comment period for the stablecoin issuer customer identification rule will continue until August 21st, while the FDIC's proposal on the Bank Secrecy Act and sanctions compliance is open for comments until August 4th. Rules regarding reserve assets, capital, liquidity, custody, redemption, risk management, and state regulatory recognition have also not been conclusively determined.

The GENIUS Act, signed into law on July 18, 2025, requires regulators to complete the complementary rules within one year. The law has established reserve, redemption, disclosure, licensing, and regulatory requirements for payment-based stablecoin issuers, including maintaining a 1:1 reserve of liquid assets, disclosing redemption policies and monthly reserve holdings, and prohibiting the direct payment of interest or income to holders.

A regulatory delay will not automatically extend the legal effective date. The GENIUS Act will still take effect no later than January 18, 2027, meaning that regulators and potential stablecoin issuers will have a further shortened preparation time.