FDIC Advances Stablecoin Oversight Framework Under GENIUS Act With New Prudential Rule Proposal
Bitcoin Magazine
The FDIC has proposed new rules for stablecoin issuers under the GENIUS Act to ensure financial stability and operational resilience.Summary
The Federal Deposit Insurance Corporation (FDIC) has introduced a proposed regulatory framework for stablecoin issuers operating under the GENIUS Act. The rule establishes strict standards for reserves, capital, liquidity, and cybersecurity for permitted payment stablecoin issuers. Key requirements include 1:1 reserve backing with high-quality liquid assets, mandatory redemption policies, and a separate liquidity buffer to cover operating expenses. While stablecoins themselves are not eligible for FDIC deposit insurance, the proposal aims to harmonize oversight and ensure financial stability as digital assets become integrated into the banking system.
(Source：Bitcoin Magazine)