FDIC Extends Comment Period for GENIUS Act Stablecoin Rulemaking

FDIC Financial Institution Letters

Published February 6th, 2026

Detected March 12th, 2026

Summary

The FDIC has extended the public comment period for its proposed rulemaking concerning the GENIUS Act application procedures for stablecoin issuance. The comment period is now extended to May 18, 2026, providing additional time for FDIC-supervised institutions to submit feedback.

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What changed

The Federal Deposit Insurance Corporation (FDIC) has extended the public comment period for its Notice of Proposed Rulemaking (NPR) regarding the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The original comment deadline of February 17, 2026, has been moved to May 18, 2026, to allow interested parties more time to prepare comprehensive comments on the proposed procedures for FDIC-supervised institutions seeking to issue payment stablecoins.

This extension primarily affects financial institutions supervised by the FDIC that are considering issuing payment stablecoins through subsidiaries. While this is an extension of a comment period and not a change in the proposed rule's substance, regulated entities should use this additional time to finalize and submit their comments by the new deadline of May 18, 2026. Failure to submit comments does not carry direct penalties, but it means their input will not be considered in the final rulemaking process.

What to do next

Review the FDIC's proposed rulemaking on GENIUS Act application procedures for stablecoin issuance.
Prepare and submit comments to the FDIC by the extended deadline of May 18, 2026.

Source document (simplified)

FDIC Extends Comment Period for Notice of Proposed Rulemaking to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins

Laws and Regulations February 6, 2026

Summary:

The Federal Deposit Insurance Corporation (FDIC) is extending the comment period for the Notice of Proposed Rulemaking (NPR) on Approval Requirements for Issuance of Payment Stablecoins by Subsidiaries of FDIC-Supervised Insured Depository Institutions from February 17, 2026, to May 18, 2026.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.

Highlights:

On December 19, 2025, the FDIC published in the Federal Register (90 FR 59409) a notice of proposed rulemaking (NPR) that would establish procedures to be followed by an insured State nonmember bank or State savings association (each, an FDIC-supervised institution) that seeks to obtain FDIC approval to issue payment stablecoins through a subsidiary pursuant to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act).

The NPR would implement the requirements of section 5 of the GENIUS Act with respect to evaluating applications based on the statutory factors, processing applications within specified timeframes, and establishing an appeal process for any denied applications.

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.

FIL-4-2026