FDIC Moves to Treat Stablecoins Like Banks Under New Rule
The FDIC has proposed new rules to regulate stablecoin issuers similarly to traditional banks under the GENIUS Act framework.Summary
The Federal Deposit Insurance Corporation (FDIC) has introduced a proposal to align stablecoin oversight with traditional banking regulations. Under the proposed rule, which implements provisions of the GENIUS Act, issuers must maintain robust reserves, such as cash or US Treasuries, and ensure reliable one-to-one redemption capabilities.
Furthermore, the proposal invites insured banks into the stablecoin ecosystem to provide custody and reserve management services. Deposits backing these assets may also qualify for standard bank protections, effectively integrating stablecoins into the broader US financial infrastructure. The agency is currently soliciting public comments for a 60-day period before finalizing these standards.
(Source：BeInCrypto)