FDIC proposes ruleset for stablecoin issuers following GENIUS enactment
The Block
The FDIC has proposed new regulatory standards for stablecoin issuers to align with the requirements established by the GENIUS Act.Summary
The Federal Deposit Insurance Corporation (FDIC) has introduced a proposed rule to create a regulatory framework for stablecoin issuers, following the enactment of the GENIUS Act. This proposal mandates that stablecoins be fully backed by U.S. dollars or liquid assets and establishes risk management requirements for issuers. The initiative aims to provide clarity on deposit insurance coverage while ensuring that stablecoin operations align with the oversight standards set by the GENIUS law.
(Source：The Block)