The Federal Deposit Insurance Corporation (FDIC) has issued a stark warning to the crypto industry with a sweeping new regulatory proposal targeting stablecoin issuers. The agency's framework hinges on 144 specific questions it demands answered before finalizing rules, giving the public just 60 days to weigh in on what could become the most significant stablecoin regulation in U.S. history.

A Framework Built On Reserve And Risk Standards

The FDIC’s board voted this week to put forward rules that would set standards for reserves, redemptions, capital requirements, risk management, and custody practices for coin issuers operating under its watch.

The proposal applies to FDIC-supervised banks and savings institutions — more than 2,700 of them — and is tied to the Guiding and Establishing National Innovation for US Stablecoins Act, better known as the GENIUS Act, which was signed into law last July.

The law handed the FDIC formal authority over transaction activity inside the institutions it already supervises. Full implementation is scheduled for January 18, 2027, unless the rules take effect earlier.

Today, our Board of Directors approved a proposed rule that would establish requirements under the GENIUS Act for FDIC-supervised stablecoin issuers.https://t.co/VAnMhwyGo5 pic.twitter.com/1A8sqGRlvk

— FDIC (@FDICgov) April 7, 2026

This is the agency’s second move to put the GENIUS Act into practice. Back in December, the FDIC put forward a separate plan to set up an application process for insured depository institutions wanting to issue payment stablecoins through subsidiaries. Tuesday’s announcement builds on that earlier step.

The Coverage Gap Stablecoin Users Should Know About

Here’s the part that may surprise some holders. While the reserves that back a stablecoin would be insured under the proposed rules, the people actually holding those stablecoins would not be.

The FDIC said extending deposit insurance directly to stablecoin holders would conflict with the text of the GENIUS Act itself, which explicitly bars payment stablecoins from being covered by federal deposit insurance.

The agency acknowledged the limitation but argued the rules would still benefit everyday users. A more tightly regulated environment, officials said, means stablecoin holders get stronger assurances that the issuers behind their tokens are being held to serious regulatory standards — even if a federal safety net doesn’t cover them directly.

The FDIC is not working alone. The Office of the Comptroller of the Currency is running its own parallel effort to bring the GENIUS Act to life. Its reach goes further — covering national bank subsidiaries and certain nonbank stablecoin issuers that fall outside the FDIC’s jurisdiction.

Featured image from Unsplash, chart from TradingView