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The Federal Deposit Insurance Corporation (FDIC) plans to introduce regulatory rules for stablecoins, clarifying requirements for reserves and redemptions.
Odaily Planet Daily News: The Federal Deposit Insurance Corporation (FDIC) has proposed a new rulemaking draft, aiming to regulate stablecoin issuers within its regulatory scope in accordance with the GENIUS Act, covering requirements such as reserves, redemptions, capital, risk management, and custody.
The FDIC said that the relevant reserve deposits would be covered by deposit insurance, but that protection does not directly cover stablecoin holders. At the same time, the regulator has sought public input on the rule details, with a 60-day comment period. The proposal is a further step toward implementing the GENIUS Act, and the related regulatory framework is expected to be gradually refined.