GENIUS Act passed 68-30 Senate, 308-122 House. Six agencies drafting final rules with major comment periods closed June 9, 2026.
OCC proposal: $5M minimum capital, three-tier liquidity (10% same-day redemption). FDIC confirmed stablecoin holders get no deposit insurance. NCUA comment closes July 17 — one day before statutory deadline.
Circle and Paxos lead federally chartered issuers; state-qualified path for issuers under $10B outstanding.