According to Foresight News , the Market Participation Division of the U.S. Commodity Futures Trading Commission (CFTC) has reissued CFTC Employee Letter 25-40, making limited revisions to the definition of "payment stablecoins." The revised terms explicitly state that national trust banks can act as authorized issuers of payment stablecoins.
Following the issuance of CFTC Employee Letter 25-40 on December 8, 2025, the department recognized that payment stablecoins meeting the definition in the letter could be issued by National Trust Bank. The department did not intend to exclude National Trust Bank from the list of issuers and decided to reissue CFTC 25-40, expanding the definition of "payment stablecoins."
