WASHINGTON, D.C. — During a House Financial Services Committee hearing, Representative Bryan Steil (R-WI) questioned Federal Reserve Chair Kevin Warsh about the approaching deadlines under the GENIUS Act. Steil emphasized the importance of timely stablecoin regulations and asked whether the Federal Reserve would meet the upcoming rulemaking deadline. Warsh responded that the Federal Reserve is working to issue the rules on time while coordinating closely with other banking regulators to provide a consistent regulatory framework.
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