Stablecoins Gain Federal Backing as CFTC Expands Issuer List

TLDR: The CFTC update formally includes national trust banks as approved issuers of payment stablecoins for derivatives margin use. Staff Letter 25-40 still requires full reserve backing and strict redemption rules for qualifying payment stablecoins. The guidance aligns federal trust banks with existing state-regulated stablecoin issuers like Circle and Paxos. Combined with the GENIUS Act, [...]

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