FDIC moves to regulate stablecoin issuers under the GENIUS Act

FDIC’s proposed rules providing insurance for corporate deposits of stablecoin issuers will not extend to the stablecoin holders, as it would conflict with the GENIUS Act’s text, the FDIC said..

• FDIC’s proposed rules providing insurance for corporate deposits of stablecoin issuers will not extend to the stablecoin holders, as it would conflict with the GENIUS Act’s text, the FDIC said
• Cointelegraph in your social feed The US Federal Deposit Insurance Corporation (FDIC) has proposed new rules to regulate FDIC-supervised stablecoin issuers in accordance with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which was signed into law nine months ago
• In a statement on Tuesday, the FDICsaidits board of directors voted to issue a proposal that wouldsetreser