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U.S. FDIC Proposes First U.S. Stablecoin Rule to Emerge From GENIUS Act

The U.S. Federal Deposit Insurance Corp. has issued its first rule proposal under the GENIUS Act, opening a 60‑day public comment period for a new application process that lets depository institutions launch stablecoin subsidiaries. The rule outlines a 120‑day review window and an appeal mechanism for rejected applications. Acting FDIC Chairman Travis Hill, a Trump nominee, led the vote, and a more comprehensive rule on capital, liquidity, and risk‑management is slated for later this year. The proposal marks the initial regulatory framework for U.S. banks to enter the stablecoin market.