Stablecoin Rules Face 144 Questions In New FDIC Proposal
The public has 60 days to weigh in. That’s how much time the Federal Deposit Insurance Corporation is giving Americans to respond to its newly proposed framework for regulating stablecoin issuers — a plan built around 144 specific questions the agency wants answered before it finalizes anything. Related Reading: Bitcoin Caught In The Crossfire As […]
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The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to publish its first formal proposal outlining how stablecoin issuers will operate under the GENIUS Act, according to acting chairman Travis Hill. Related Reading: Cardano Founder Unveils Pentad Blueprint To Drive 2026 Growth The rulemaking package is expected to be submitted to the House Financial Services […]
The Federal Deposit Insurance Corporation (FDIC) has moved to translate the country’s first crypto bill for stablecoins, the GENIUS Act, into concrete regulatory guidance for banks and their fintech subsidiaries that wish to use or issue stablecoins. In a notice of proposed rulemaking approved by the FDIC Board, the agency lays out “a prudential framework” for FDIC‑supervised permitted payment stablecoin issuers (PPSIs) and for insured depository institutions (IDIs) that provide custodial or safekeeping services tied to payment stablecoins. FDIC Issues GENIUS Act Rules The proposal....
The Federal Deposit Insurance Corporation (FDIC) has announced a new framework that outlines how banks can apply to issue payment stablecoins through subsidiaries as part of the implementation of the country’s stablecoin bill, the GENIUS Act. FDIC’s First Move On GENIUS Act In a statement, Acting Chair Travis Hill emphasized that the proposed process is […]
According to prepared testimony from Acting FDIC Chair Travis Hill, the agency expects to publish a proposed rule that lays out how stablecoin issuers will apply for federal oversight before the end of December 2025. Related Reading: Bitcoin Reflects Energy As The ‘True Currency,’ Elon Musk Says What The Draft Will Cover Based on reports, […]
The Federal Deposit Insurance Corporation (FDIC) has sent a cease and desist letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have FDIC insurance, stating: “We never meant otherwise, and apologize if anyone misinterpreted it … to be clear FTX US isn’t FDIC insured.”
FDIC Orders 5 Firms to Cease and Desist
The Federal Deposit Insurance Corporation (FDIC) issued crypto-related cease and desist orders to five companies Friday. The agency regulates and insures the deposits of FDIC-insured....