FDIC moves to regulate stablecoin issuers under the GENIUS Act

FDIC moves to regulate stablecoin issuers under the GENIUS Act

4.27%BTC$71,290 3.54%XLM$0.1621 3.81%TRX$0.3159 0.04%XMR$339.72 3.94%DOGE$0.09461 4.37%BCH$443.13 2.42%ADA$0.2609 6.09%BNB$613.44 2.36%ETH$2,235 5.67%SOL$84.53 5.63%HYPE$38.28 4.86%XRP$1.37 3.92%USD Written by Brayden Lindrea,Staff WriterReviewed by Felix Ng,Staff EditorFDIC moves to regulate stablecoin issuers under the GENIUS Act2 hours agoFDIC’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. The US Federal Deposit Insurance Corporation (FDIC) has proposed new rules to regulate FDIC-supervised stablecoin issuers in accordance with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which was signed into law nine months ago. In a statement on Tuesday, the FDIC said its board of directors voted to issue a proposal that w

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