FDIC Extends Comment Period on GENIUS Act Payment Stablecoin NPR, US, February 2026

The Federal Deposit Insurance Corporation (FDIC) extended the public comment period on its Notice of Proposed Rulemaking (NPR) establishing application procedures for FDIC-supervised institutions seeking to issue payment stablecoins under the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act). The FDIC announced the extension on 6 February 2026. The NPR remains at the proposed rule stage; no final rule has been adopted.

The GENIUS Act authorises the FDIC, as the federal banking regulator for state-chartered non-member banks, to establish application and approval procedures governing payment stablecoin issuance by FDIC-supervised institutions. The NPR sets out the proposed procedural requirements under that statutory mandate. The extended comment period allows banks, stablecoin issuers, and other interested parties additional time to submit written comments on the proposed procedures before the FDIC moves toward a final rule.

FDIC-supervised state chartered non-member banks that intend to issue payment stablecoins must engage with the FDIC's NPR comment process. Those banks must submit comments within the extended deadline to shape the final application procedures that will govern their ability to issue stablecoins. Other stablecoin issuers not supervised by the FDIC should monitor parallel proceedings at the Office of the Comptroller of the Currency and the Federal Reserve, which have separate supervisory authority over national banks and state member banks respectively.

The comment period extension does not alter the substance of the proposed procedures; all previously submitted comments remain on the record. The FDIC has not yet announced a target date for publishing the final rule. Stablecoin issuers and FDIC-supervised institutions should monitor the FDIC's official rulemaking docket for the revised comment deadline and for any subsequent notice of a final rule publication date.

Source: Federal Deposit Insurance Corporation, "FDIC Extends Comment Period on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins," Press Release, 6 February 2026. Official URL: https://www.fdic.gov/news/press-releases/2026/fdic-extends-comment-period-proposal-establish-genius-act-application. Confirmed: 4 March 2026.

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