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Cointelegraph by Sam Bourgi

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

The FDIC published a 38-page proposal outlining how regulated banks could apply, via subsidiaries, to issue payment stablecoins. According to an FDIC website posting, the draft lays out approval criteria and oversight; as Bloomberg reported, it will undergo a public consultation before advancing. The GENIUS Act cleared the Senate in June and was signed by President Donald Trump on July 18.
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