The FDIC approved a proposal creating the application process for banks to issue stablecoins under the GENIUS Act
The FDIC approved the very first proposal that sets the rules for how banks file applications to issue payment stablecoins under Trump's GENIUS Act. The proposal spells out how insured institutions form subsidiaries to issue stablecoins and how state nonmember banks and state savings associations must file if they want to enter this market, with [...]
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