US regulatory agencies missed the Saturday deadline for issuing final rules under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which was signed into law on July 18, 2025. While several agencies published proposed rules and solicited public comment during the past year, none completed the final rulemaking process before the deadline, according to tracking data from law firm Chapman and crypto investment firm Paradigm. The agencies that missed the deadline include the Department of the Treasury, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the National Credit Union Administration. The Treasury issued four proposed rule packages covering implementation standards, interstate regulatory similarity, registration of foreign issuers, and anti‑money‑laundering compliance, while the OCC issued two proposals addressing nationally chartered payment stablecoin issuers and supervisory expectations. The FDIC issued one proposal for FDIC‑supervised institutions that issue payment stablecoins, focusing on reserve management and operational standards. The NCUA proposed rules allowing federally insured credit unions to participate in stablecoin issuance, and federal banking agencies jointly released an interagency implementation rule to align supervisory expectations. The absence of final regulations creates uncertainty for stablecoin issuers and market participants, according to industry analysts. On the one‑year anniversary of the law, Anchorage Digital urged Congress to pass the Digital Asset Market Clarity Act (CLARITY), which would extend regulatory framework concepts to the broader digital asset sector. The CLARITY Act cleared the Senate Banking Committee in May and has been discussed in letters from state banking associations that seek clearer guidance on stablecoin yield provisions. The agencies have not set a new timeline for final rule issuance, and the industry awaits further legislative or regulatory action.