Washington is moving towards clearer regulations for bank-issued stablecoins, with the FDIC proposing a framework for banks to seek approval to issue payment stablecoins under the GENIUS Act. Meanwhile, American Bitcoin surpasses ProCap in corporate BTC holdings, Anchorage Digital acquires Securitize’s RIA platform, and Bhutan plans to use Bitcoin reserves to fund Gelephu Mindfulness City.

The FDIC is advancing proposed rulemaking to provide guidance to banking institutions seeking to issue payment stablecoins under the GENIUS Act. Financial institutions would need to apply through a subsidiary, meeting issuance standards, reserve backing, and redemption policies.

American Bitcoin has accumulated over 1,000 BTC since December, surpassing ProCap in corporate Bitcoin holdings with 5,098 BTC valued at $452 million. Anchorage Digital acquires Securitize’s RIA platform to expand institutional offerings, and Bhutan plans to use Bitcoin reserves to fund Gelephu Mindfulness City.

Bhutan, a significant holder of Bitcoin, will tap its digital asset reserves to finance Gelephu Mindfulness City, aiming to create a new economic hub while preserving long-term capital. The project focuses on sustainability and innovation to attract investment and create local jobs, guided by strong governance and capital preservation.

Read more at Cointelegraph: FDIC’s GENIUS Act Stablecoin Plan Leads a Week of Crypto Business Moves