[Acting FDIC Chair Says Plans to Propose Stablecoin Regulatory Application Framework by December] According to a report by Jinse Finance, Travis Hill, Acting Chair of the U.S. Federal Deposit Insurance Corporation (FDIC), plans to announce at Tuesday's House Financial Services Committee hearing that the FDIC will propose the first set of implementation rules for the 'National Innovation Stablecoin Guidance Act' (GENIUS Act) by the end of December, establishing a regulatory application framework for stablecoin issuers. In his prepared testimony, Hill stated that the FDIC has begun drafting rules to implement the GENIUS Act and plans to propose prudential requirements for payment stablecoin issuers under FDIC supervision early next year. The agency is also developing guidelines on the regulatory status of tokenized deposits based on recommendations from the President's Working Group on Financial Markets for digital assets.