The FDIC has moved forward with a new GENIUS Act framework outlining how U.S. banks can issue and manage stablecoins, signaling expanded federal oversight of dollar-backed digital assets.
The Federal Reserve, OCC, and FDIC warn banks that safekeeping bitcoin and other crypto-assets demands strong cybersecurity, operational expertise, and full legal compliance.
The FDIC issues new guidance allowing banks it oversees to engage in crypto services without seeking pre-approval. This reverses strict policies imposed under the Biden administration.
Coinbase sued the SEC and FDIC, accusing the agencies of denying information requests and coordinating efforts to restrict the crypto industry's access to banking services.
This expansion will add to its offerings in 46 states of the United States, something that required “quite a bit of work,” according to CEO Zac Prince.
PREDICT BITCOIN
