The Federal Deposit Insurance Corporation (FDIC) published a notice of proposed rulemaking (NOPR), Approval Requirements for Issuance of Payment Stablecoins by Subsidiaries of FDIC-Supervised Insured Depository Institutions. The FDIC is soliciting comments on a proposal to set procedures for an insured State nonmember bank or State savings association (each, an FDIC-supervised institution) that seeks to obtain FDIC approval to issue payment stablecoins through a subsidiary pursuant to the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The comments must be submitted by February 17, 2026, 60 days after publication in the Federal Register.
The proposal outlines the process prospective issuers must follow and the data that must be submitted in the application process which will include a description of the proposed payment stablecoin, identities and roles of those involved in the stablecoin activities, as well as financial information.
Read the NOPR.
Read the Genius Act.
