# FDIC

#عاجل🚨🚨🚨 : The U.S. Senate confirms the appointment of Mike Selig, a lawyer supportive of cryptocurrencies, as Chair of the Commodity Futures Trading Commission (#CFTC ) with a vote of 53 to 43.
- Mike Selig is appointed Chair of the Commodity Futures Trading Commission, with his term lasting until 2029.
- Known for his pro-innovation and cryptocurrency-friendly stance in regulation.
- Travis Hill is promoted to President of the Federal Deposit Insurance Corporation (#FDIC ).
🚀 Another strong indicator of the shift of U.S. regulators toward a more effective framework for digital currencies

The US banking system is about to transition to blockchain technology.
A new report from Bank of America indicates the end of the "regulatory debate" phase and the beginning of actual implementation.
Key steps driving this transformation:
• Conditional approval from the Office of the Comptroller of the Currency (#OCC ) for banking licenses to five digital asset companies
• The upcoming Federal Deposit Insurance Corporation (FDIC) proposal regarding approval for bank stablecoins
• Federal Reserve collaboration on stablecoin capital and liquidity rules (Law #FDIC )
This marks the beginning of th

The Federal Deposit Insurance Corporation (#FDIC ), the agency responsible for insuring bank deposits in the United States, has approved a draft law establishing an official procedure for supervised banks to request a license to issue stablecoins for payments under #GENIUS law. This procedure sets a preliminary regulatory framework for the traditional banking system to directly participate in this market.
🗓️ The proposal is currently under a public consultation period, with 60 days allocated for feedback. The text includes details on analysis criteria, operational requirements, and superviso

🚨BREAKING: The FDIC plans to revise crypto guidelines as banks push for custody services and ‘tokenized deposits’ on blockchains.
🚨BREAKING: After amending the cryptocurrency guidelines, the FDIC has planned to address the pressure on banks for custodial services and 'tokenized deposits' on the blockchain.
#FDIC #Crypto #blockchain #news