The FDIC moves towards a federal regulatory framework for stablecoins in the U.S..
The crypto industry in the United States is on the verge of a significant regulatory transformation. The Federal Deposit Insurance Corporation (FDIC) approved a proposal that establishes the process by which financial institutions can issue payment stablecoins through subsidiaries, under the new federal GENIUS law, signed this summer by President Donald Trump.
🔸A new process for issuing stablecoins in the U.S.
The regulation proposed by the FDIC introduces a clear path for banks and other regulated institutions to apply for authorization to issue payment stablecoins through subsidiaries specifically established for this purpose.
The application must detail the proposed activities, the control and ownership structure of the subsidiary, as well as attach a commitment letter with a registered public audit firm.
According to Nicholas Simons, advisor to the FDIC, the aim of this process is to allow the agency to assess the security and soundness of operations related to stablecoins, while minimizing the regulatory burden on applicants.
Additionally, the FDIC has opened a public consultation period on the rule, in order to engage the industry and other relevant stakeholders in defining the new regulatory guidelines.
