FDIC moves to regulate stablecoin issuers under the GENIUS Act
Burns Brief
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 Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
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.
Key Takeaways
- 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