Travis Hill, the acting chairman of the Federal Deposit Insurance Corporation (FDIC), stated in prepared testimony that the FDIC expects to propose an application framework for stablecoin issuers seeking federal oversight later this month. The agency plans to release a separate rule early next year to implement the prudential oversight requirements for FDIC-regulated issuers as outlined in the GENIUS Act, covering aspects such as capital, Liquidity, and reserve quality.

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