US CFTC Regulation: National Trust Banks Allowed to Issue Dollar-Backed Stablecoins

Background and New Rules

The US Commodity Futures Trading Commission (CFTC) has recently introduced a major policy adjustment, expanding the regulatory framework for stablecoins. Under the new rules, national trust banks are now permitted to issue dollar-backed stablecoins under the guidance of the GENIUS Act.

Significance of the Policy

This decision marks a significant step forward for the US in the digital asset space, opening the door for traditional financial institutions to participate in the cryptocurrency market. The CFTC emphasized that the new rules will enhance market transparency and compliance.

Future Outlook

Industry experts believe that this policy could encourage more banks to enter the stablecoin issuance arena, further promoting the application of blockchain technology within mainstream financial systems.