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#CFTCOKsBankStablecoins — What Actually Changed & Why It Matters
On February 6, 2026, the U.S. Commodity Futures Trading Commission (CFTC) reissued Staff Letter 25-40 (now under guidance 26-05) with a small but meaningful clarification for the crypto and derivatives markets.
The update confirms that national trust banks — federally chartered and OCC-supervised institutions — are now explicitly recognized as eligible issuers of “payment stablecoins” that Futures Commission Merchants (FCMs) can accept as margin or collateral in futures and derivatives trading.
This fixes an oversight from the