Stablecoin Shakeout: GENIUS Act Rules Are Finalizing Before the Midterms — Which Issuers Win, Who Gets Squeezed
The stablecoin shakeout is no longer a prediction — it is a timeline. Banking regulators are racing to finalize the GENIUS Act’s implementing rules before the November 2026 midterms, and the public comment period now open on stablecoin issuance rules has turned into a de facto audition: issuers that fit the new regime are consolidating power, while everyone else is scrambling to survive. For US investors, the next 90 days will decide which stablecoins are safe to hold, which yield products stay legal, and which tokens quietly become compliance liabilities on your tax return. ...