FDIC Board Clears Initial GENIUS Act Framework for Bank Payment Stablecoin Applications

On December 16 2025, the FDIC board approved the first proposal detailing how insured banks and state nonmember institutions must apply to issue payment stablecoins under the GENIUS Act. The framework explains subsidiary requirements, filing procedures, evaluation timelines, and an appeal process, while opening a 60‑day public comment period once published in the Federal Register. In parallel, major Wall Street banks have issued over $530 million in Bitcoin‑linked structured notes and have begun offering Ether‑based products to meet growing institutional demand.