Home Fear & Greed Pools Wallets Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 7404
Markets: 116672
Crypto Currency Tracker logo Crypto Currency Tracker logo
ENG
EST
RUS
TUR
DEU
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRO
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VEF
VND
VES
VUV
WST
ZAR
ZMW
ZWL
Market Cap
24h Vol
7404
Cryptocurrencies
58.84%
Bitcoin Share
Bitcoinist 2025-12-16 18:52:11

Banks Can Soon Issue Stablecoins: FDIC Begins Rulemaking Under GENIUS Act

Banks Can Soon Issue Stablecoins: FDIC Begins Rulemaking Under GENIUS Act

The Federal Deposit Insurance Corporation (FDIC) has announced a new framework that outlines how banks can apply to issue payment stablecoins through subsidiaries as part of the implementation of the country’s stablecoin bill, the GENIUS Act. FDIC’s First Move On GENIUS Act In a statement , Acting Chair Travis Hill emphasized that the proposed process is tailored to allow the FDIC to thoroughly evaluate the safety and soundness of applications from banks seeking to enter the stablecoin market. According to a summary from FDIC staff, banks wishing to issue payment stablecoins will need to submit detailed applications outlining various aspects of their proposed activities. Each application must include a description of the intended payment stablecoin, along with a comprehensive overview of the subsidiary’s activities. Additionally, institutions must provide financial information, details regarding the ownership and control structure of the subsidiary, and pertinent policies related to customer agreements, including provisions for custody. Applicants will need to submit an engagement letter from a registered public accounting firm. 30-Day Review Period For Stablecoin Applications The FDIC aims to promptly review submissions, notifying stablecoin applicants within 30 days whether their application has been deemed substantially complete. Following that, the agency must make a decision on approval within 120 days from the time the application reaches this status. “This proposed rule is the FDIC’s first action to implement the GENIUS Act,” stated Acting Chairman Travis Hill. He added that in the coming months, the agency plans to introduce proposals to establish the required management standards for subsidiaries of FDIC-supervised institutions that are approved to issue payment stablecoins. The FDIC is also committed to providing comprehensive regulatory clarity regarding activities associated with digital assets and tokenized deposits. The plan will undergo a public consultation period before it can be finalized. Featured image from DALL-E, chart from TradingView.com

Most Read News

Market Cap
24h Vol
58.84%
Bitcoin Share
342
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.