Regulatory Alerts2025-12-16 | FIL-59-2025Notice of Proposed Rulemaking to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins
The FDIC Board of Directors approved a notice of proposed rulemaking under the GENIUS Act requiring FDIC-supervised state banks and savings associations to apply for subsidiary approval before issuing payment stablecoins. The proposed regulation establishes new procedures under § 12 CFR 303.252 that define application scope, filing requirements, statutory evaluation factors, processing timeframes, and appeal mechanisms for denied applications. Public comments on the rule will be accepted for sixty days following its Federal Register publication, finalizing the framework for permitted payment stablecoin issuers.
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