Crypto Regulation News: FDIC to Release Stablecoin Rules Under GENIUS Act This Week
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The post Crypto Regulation News: FDIC to Release Stablecoin Rules Under GENIUS Act This Week appeared first on Coinpedia Fintech News The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing for a major step in regulating stablecoins. Acting Chair Travis Hill announced that the agency plans to release its proposed framework for the GENIUS Act later this month. This move will establish how stablecoin issuers are licensed and supervised across the country. What the GENIUS Act Means Signed into law by President Donald Trump in July, the GENIUS Act, short for Guiding and Establishing National Innovation for U.S. Stablecoins Act, creates the first federal regulatory structure specifically for stablecoins. Instead of relying on a patchwork of state rules, the act provides a unified approach, assigning responsibilities to both federal and state authorities. The FDIC, Federal Reserve, OCC, and NCUA recently participated in a House Financial Services Committee hearing to explain how they will implement the law. FDIC’s Role: Supervising Bank-Linked Stablecoin Issuers Hill explained that the FDIC will directly supervise and approve subsidiaries of FDIC-insured banks that plan to issue stablecoins. Any bank under FDIC oversight must go through a formal application process before its subsidiary can launch a stablecoin. The FDIC will also establish financial safeguards for these issuers, including capital requirements, liquidity standards, and rules on how reserve assets are managed. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Trump’s Fed Chair Announcement Likely This Week: Is It the Needed Crypto Bullish Catalyst? , The first proposed rule, detailing the FDIC’s application framework, is expected later this month.…
