ChainThink report: Acting Chairman Travis Hill of the Federal Deposit Insurance Corporation (FDIC) stated in his testimony submitted to the House Committee on Financial Services that the FDIC expects to release its first proposal related to the GENIUS Act by December, which will outline a regulatory framework for stablecoin issuers seeking federal oversight. Preliminary prudential regulatory requirements targeting FDIC-supervised stablecoin issuers are also anticipated early next year. The GENIUS Act mandates joint supervision of stablecoin operations by federal and state agencies, requiring the FDIC to establish rules on capital adequacy, liquidity, and reserve quality, and to solicit public comments through formal procedures.