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Mark Travoy

FDIC unveils 38-page framework for bank-issued payment stablecoins under GENIUS Act

The FDIC released a 38-page proposal setting out how FDIC‑supervised banks could issue payment stablecoins through subsidiaries under the GENIUS Act. The plan outlines approval criteria spanning reserves, redemption, governance, and safety and soundness, and is open for public consultation before further rule-making. If approved, the FDIC would serve as the primary federal regulator for those subsidiary activities.
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