FDIC to Roll Out US Stablecoin Regulatory Framework This Month
The Federal Deposit Insurance Corporation (FDIC) will introduce its first comprehensive rule framework for US stablecoins by end of July, acting chair Travis Hill confirmed. The MOVE follows July's GENIUS Act legislation that designates the FDIC as primary regulator for bank-issued stablecoins.
New capital requirements, liquidity rules, and reserve standards will accompany guidance on tokenized deposits. The FDIC has already begun drafting implementation rules, with a proposal for issuer approval processes coming this month and prudential standards expected early 2025.
The GENIUS Act establishes a multi-agency oversight system, with the FDIC supervising stablecoin subsidiaries of banks under its existing jurisdiction. Other regulators will handle non-bank issuers. Hill emphasized the FDIC's role extends beyond administrative oversight to defining substantive financial safeguards for the sector.
