US lawmakers are urging regulators to implement stablecoin regulations by the July 2026 deadline.

According to Odaily Planet Daily, the GENIUS Stablecoin Act, passed in the US this summer, is entering the implementation phase, with federal regulators pushing forward the development of supporting rules, aiming to complete them by July 18, 2026. Representative Bryan Steil urged regulators at a hearing to "complete it on time" to avoid prolonged delays in the legislation. The FDIC stated it will release a draft of GENIUS-related rules this month, while the NCUA indicated the first rule might be the stablecoin issuer application process. GENIUS requires stablecoins to be fully backed by the US dollar or highly liquid assets and requires issuers with a market capitalization exceeding $50 billion to undergo annual audits. During the hearing, Democratic Representative Maxine Waters also questioned President Donald Trump's potential conflicts of interest in involvement in crypto projects.