SIAIntel analysis (updated July 16, 2026; deadline day July 18) argues U.S. agencies are approaching / missing the GENIUS Act’s statutory one-year rulemaking deadline with final rules still unpublished while key comment periods run past the date.
Legal clock: GENIUS Act requires primary federal payment stablecoin regulators, the Treasury secretary, and state payment stablecoin regulators to promulgate implementing regulations through notice-and-comment rulemaking no later than one year after July 18, 2025 → statutory deadline July 18, 2026. July 18 falls on a Saturday; relevant window is Friday public-inspection record plus statements through the statutory date.
Public record at July 16 cutoff (1:25 p.m. ET re-sweep): No coordinated final GENIUS Act implementing package visible across OCC, Federal Reserve, FDIC, NCUA; Federal Register public-inspection desk had no stablecoin final-rule entry that day. Agencies remain largely at proposed-rule stage.
Open comment windows extending past deadline:
- NCUA core issuer-standards comments through July 17.
- OCC supplemental AML/sanctions proposal closes July 24.
- FDIC corresponding compliance proposal closes August 4.
- Five-agency customer-identification proposal closes August 21.
- Fed: joint CIP proposal visible; no Board-only core prudential GENIUS Act proposal noted.
What the deadline is not: Not a stablecoin shutdown or depeg trigger. Framework takes effect on the earlier of January 18, 2027, or 120 days after primary federal regulators issue final implementing regulations. Separate service-provider restriction begins July 18, 2028.
Market context cited: Stablecoin market ~257.236B (~83%). Immediate impact framed as regulatory uncertainty (sequencing, compliance costs, foreign-issuer treatment, bank entry, reserve migration) rather than automatic peg break. Macro link via future short-dated Treasury demand is second-order.