The Federal Deposit Insurance Corporation (FDIC) has announced an extension to the public comment period for its proposed rule related to the GENIUS Act. The proposal concerns application procedures for FDIC-supervised state nonmember banks and state savings associations that intend to issue payment stablecoins through subsidiaries.
The FDIC’s notice of proposed rulemaking (NPR) originally set the deadline for comments on February 17, 2026. This deadline has now been extended by 90 days, moving it to May 18, 2026. According to the agency, this extension is intended to give the public more time to prepare and submit their feedback on issues raised by the NPR.
The GENIUS Act aims to establish a framework for how certain financial institutions can apply to issue payment stablecoins under FDIC supervision.
