FDIC Extends Comment Period on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins

WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today announced a 90-day extension to the comment period on the agency's notice of proposed rulemaking (NPR) that would implement the application provisions under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) for FDIC-supervised state nonmember banks and state savings associations seeking to issue payment stablecoins through a subsidiary.

To provide additional time for the public to prepare comments to address the matters raised by the NPR, the FDIC is extending the comment period from February 17, 2026, to May 18, 2026.