PANews reported on December 2nd that, according to CoinDesk, Acting Chairman Travis Hill of the Federal Deposit Insurance Corporation (FDIC) will state at a congressional hearing that the FDIC will release its first draft implementation of the GENIUS Act this month, outlining the federal regulatory application process for stablecoin issuance. The FDIC also plans to introduce subsequent regulatory provisions, including capital and liquidity requirements, early next year. Hill also stated that the FDIC is developing regulatory guidelines for tokenized deposits.