FDIC Approves Proposal to Implement GENIUS Act Requirements and Standards

> The FDIC approved a proposed rule to implement the GENIUS Act, establishing a framework for stablecoin issuers that includes reserve asset requirements, redemption standards, capital rules, & risk management, while clarifying that tokenized deposits are treated the same as traditional deposits under federal insurance.

> The proposal also sets requirements for banks providing stablecoin custodial services and addresses pass-through insurance for deposits backing stablecoins, with a 60-day comment period following Federal Register publication.

Source: https://www.fdic.gov/news/press-r...
_
〽️ Crypto Pulse 👉 @degendaoinfo #crypto