FDIC extends comment period for Genius Act implementation
By ABA Banking Journal Staff
AI Summary
• The FDIC has extended the comment period for its proposal on issuing stablecoins through a subsidiary until May. • This extension affects banks and potentially their subsidiaries, but does not explicitly impact Texas credit unions directly.
Texas Relevance
The article does not mention any specific Texas entities or regulations. It is a general announcement about the comment period extension for stablecoin issuance by banks, which may indirectly affect financial institutions but is not directly relevant to Texas credit unions.
Original Content
The FDIC announced that it will push back to May the deadline for comment on its proposal to create a process through which banks can seek agency approval to issue stablecoins through a subsidiary. The post FDIC extends comment period for Genius Act implementation appeared first on ABA Banking Journal .