The U.S. Federal Deposit Insurance Corp. (FDIC) has unveiled its first rule proposal under the new stablecoin law, opening a 60-day public comment period on how it will handle applications from regulated banks seeking to issue stablecoins through subsidiaries.

The proposal sets out procedures for submitting and reviewing applications within a 120-day approval window, along with an appeals process for rejected filings. Acting Chairman Travis Hill said the framework is designed to assess safety and soundness while minimizing regulatory burden. More comprehensive rules covering capital, liquidity, and risk management requirements for stablecoin issuers are expected to follow in the coming months.