The Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC) have updated their guidance to allow national trust banks to issue stablecoins, marking a significant regulatory development. This revision, articulated in the reissuance of CFTC Staff Letter 25-40, enables national trust banks—federally chartered institutions with a focus on custody and fiduciary services—to become permitted issuers of payment stablecoins, thus providing regulatory relief for futures commission merchants to accept these digital assets as margin collateral. This move aligns closely with the GENIUS Act, signed into law by President Trump in 2025, which established a comprehensive framework for the issuance of stablecoins, promoting innovation in the digital asset landscape while ensuring oversight and reserve requirements to safeguard the financial system.
CFTC updates stablecoin guidelines, allowing trust banks as issuers
