[U.S. Regulators Fail to Issue Stablecoin Rules as Required by the 'GENIUS Act'] BlockBeats News, July 19 – U.S. regulators have failed to issue the stablecoin implementation rules required by the 'GENIUS Act' within the stipulated one-year timeframe. As of July 18, major regulatory agencies such as the Treasury Department, OCC, FDIC, and NCUA have yet to finalize the rules, with several core frameworks still in the proposal or public consultation stages. Among them, the public consultation period for the customer identification rules for stablecoin issuers will continue until August 21, while the FDIC's proposal on the 'Bank Secrecy Act' and sanctions compliance is open for comments until August 4. Rules regarding reserve assets, capital, liquidity, custody, redemption, risk management, and state-level regulatory recognition also remain unresolved. The 'GENIUS Act,' which was signed into law on July 18, 2025, mandates that regulators finalize supporting rules within one year. The Act establishes requirements for payment stablecoin issuers, including reserves, redemption, disclosure, licensing, and regulatory oversight. These include maintaining a 1:1 liquid asset reserve, publishing redemption policies, monthly reserve disclosures, and prohibiting the direct payment of interest or returns to holders. Regulatory delays will not automatically postpone the law's effective date. The 'GENIUS Act' will still take effect no later than January 18, 2027, meaning the preparation time for regulators and potential stablecoin issuers will be further compressed. [Original Link]