"The FDIC plans to issue a final rulemaking before the end of the year to establish an application process and prudential requirements for stablecoin issuers under its jurisdiction, although likely not until after the Office of the Comptroller of the Currency issues its own stablecoin rules, FDIC Chairman Travis Hill said. The FDIC proposed new rulemaking earlier this year to implement the Genius Act, which created a regulatory framework for payment stablecoins."