US FDIC set to unveil its first GENIUS Act stablecoin guidelines this month
PositiveCryptocurrency

- The US Federal Deposit Insurance Corporation (FDIC) is set to propose a new application framework for stablecoin issuers, as confirmed by Chairman Travis Hill. This announcement is expected to be made during a written testimony before the House Financial Services Committee later this month.
- The introduction of these guidelines is significant as it marks the FDIC's first formal approach to regulating stablecoins, which could enhance the stability and trust in the cryptocurrency market, potentially attracting more investors and users.
- This development occurs amidst ongoing discussions in the Senate regarding Travis Hill's nomination for a permanent position as FDIC Chair, highlighting the importance of leadership stability in shaping the future of cryptocurrency regulation.
— via World Pulse Now AI Editorial System
