Stablecoin issuers get closer to U.S. federal rules with FDIC's new proposal
CoinDesk
The FDIC has proposed new federal rules for stablecoin issuers to align with the GENIUS Act's regulatory requirements.Summary
The U.S. Federal Deposit Insurance Corp. (FDIC) has introduced a proposed rule to regulate stablecoin issuers, fulfilling its responsibilities under the GENIUS Act. The proposal focuses on establishing capital, liquidity, and custody standards for depository institutions issuing stablecoins through subsidiaries. It emphasizes that stablecoins do not qualify for traditional deposit insurance and prohibits issuers from claiming that tokens generate interest simply for holding them. The rule is currently open for a 60-day public comment period, as regulators continue to refine oversight in a political environment where current agency leadership is entirely composed of Republican appointees.
(Source：CoinDesk)