The FDIC — which oversees thousands of U.S. banks — has unveiled its first proposed rule for banks that want to issue stablecoins.
Key Points:
· Applies to FDIC-regulated banks seeking to set up stablecoin-issuing subsidiaries.
· Establishes a tailored application process, with a 120-day review window and an appeals option for rejections.
· Public comment period is now open for 60 days.
· A second, more detailed rule on capital, liquidity, and risk management is expected “in the months ahead.”
Why It Matters:
· This is the first regulatory move under the GENIUS Act, the major U.S. stablecoin law passed earlier this year.
· Creates a clearer pathway for bank-issued stablecoins, potentially boosting institutional adoption and confidence.
· Signals continued U.S. regulatory progression in crypto, even as election uncertainty persists.
Bottom Line:
More regulatory clarity is coming for U.S.dollar-backed stablecoins. Banks looking to enter the space now have a proposed framework to follow — another step toward legacy finance meeting crypto.
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