Regulators are making moves on stablecoin oversight. The FDIC just unveiled a proposal that would let banks issue payment stablecoins through dedicated subsidiaries—marking a significant shift in how the agency approaches the digital currency landscape. This framework represents a crucial milestone in translating the legislative push into actual operating guidelines for financial institutions wanting to enter the stablecoin space. Banks exploring this route would need to navigate the new application and approval process outlined in the framework, essentially creating a formal pathway rather than leaving things in regulatory gray territory. The proposal signals that traditional banking infrastructure and stablecoin infrastructure may be moving closer together, at least from a compliance standpoint.