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FDIC Proposes Application Requirements for Banks Seeking to Issue Stablecoins Under the GENIUS Act

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On December 16, the FDIC announced the approval of an NPRM issued in the Federal Register that would establish an application process under the GENIUS Act for FDIC-supervised state nonmember banks and savings associations seeking to issue payment stablecoins through subsidiaries….
By: Orrick, Herrington & Sutcliffe LLP

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