XBRL US backs structured data for stablecoin disclosures
XBRL US has responded to the Federal Deposit Insurance Corporation’s (FDIC) second Notice of Proposed Rulemaking on requirements for FDIC-supervised permitted payment stablecoin issuers under the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act). In its letter, XBRL US expressed support for preparing reported information on digital assets in structured, machine-readable format.
The GENIUS Act, which created federal oversight and licensing regimes for stablecoin issuers across multiple regulators, represents a significant moment for the emerging digital assets reporting landscape. As stablecoins edge closer to mainstream banking infrastructure, the question of how their issuers report financial information is no longer an abstract one.
XBRL US has been consistently vocal on this theme. This is its second GENIUS Act response in recent weeks, having earlier urged the Office of the Comptroller of the Currency (OCC) to require structured digital format for stablecoin disclosures.
Wherever new digital asset reporting obligations are being designed, there is a valuable window to build structured data requirements in from the start, rather than retrofitting them later. Getting this right now will pay dividends for regulators and markets alike.
Read the XBRL US letter here.
