FDIC Locks In GENIUS Act Rules, Hands Stablecoin Issuers a Regulatory Blueprint
Picture this: FDIC directors nod yes to a rule that could let banks custody trillions in stablecoins. But zoom out—it's not a free-for-all; it's a tightly scripted playbook under the GENIUS Act.
⚡ Key Takeaways
- FDIC proposes GENIUS Act rules mandating reserves, capital, and risk standards for stablecoin issuers. 𝕏
- Aligns with OCC, treats tokenized deposits as insured if they qualify, opens 60-day comment period. 𝕏
- Unlocks bank participation in stablecoins but with strict supervision—potential $2T market catalyst. 𝕏
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Originally reported by PYMNTS
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