FDIC Unveils First Pathway for Stablecoin Regulation under GENIUS Act

The Federal Deposit Insurance Corporation (FDIC) is taking a key step forward in regulating stablecoins, announcing the launch of the first application process under the GENIUS Act. This legislation aims to integrate dollar-pegged tokens into the core of the U.S. financial system, rather than leaving them unregulated and in limbo. 🕵️‍♂️ Instead of debating the classification of stablecoins (commodities, securities, or payments instruments), the FDIC’s initial action will focus on who is eligible to operate as federally supervised issuers.