FDIC introduces the application submission process for stablecoin issuers
According to Odaily, the Federal Deposit Insurance Corporation (FDIC) has approved the proposed rule to establish an application submission procedure for institutions seeking to issue payment stablecoins under its regulation. This is the first official proposal for rulemaking following the passage of the 'GENIUS Act', known as the 'U.S. Stablecoin Innovation Act'. A 60-day period for public comments on this proposal has been initiated.
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