FDIC Proposes Application Process for Banks to Issue Stablecoins through Subsidiaries

BlockBeats News, December 17th, the Federal Deposit Insurance Corporation (FDIC) today approved a proposed rule to establish an application process for banks to issue stablecoins through subsidiaries. The rule has initiated a 60-day public comment period, marking the first formal rulemaking proposal following the passage of the GENIUS Act, also known as the American Stablecoin Innovation Act.