FDIC proposes application procedures for banks to issue stablecoins through subsidiaries
ChainCatcher News, the U.S. Federal Deposit Insurance Corporation (FDIC) has approved a proposed rule to establish an application process for banks to issue stablecoins through subsidiaries. A 60-day public comment period has been launched. This is the first formal rulemaking proposal following the passage of the "GENIUS Act"—the "U.S. Stablecoin Innovation Act."
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