The US Federal Deposit Insurance Corporation has proposed new rules to regulate stablecoin issuers under the GENIUS Act, introducing standards for reserves, redemption, capital and risk management.
The proposal clarifies that while reserve deposits backing stablecoins may qualify for FDIC insurance, this protection will not extend directly to stablecoin holders.
The FDIC said treating holders as insured depositors “seems inconsistent” with the GENIUS Act’s prohibition on payment stablecoins being covered by federal deposit insurance.
The rules aim to create a more secure framework for stablecoin issuance by imposing stricter supervisory standards on banks and institutions under FDIC oversight.
The proposal forms part of the broader rollout of the GENIUS Act, which grants the FDIC authority over stablecoin activity and is set to take effect by January 2027.
The agency has opened a 60-day consultation period, inviting public feedback across 144 regulatory questions as it refines its approach.
The move follows earlier proposals and runs alongside efforts by the Office of the Comptroller, which will oversee a broader range of stablecoin issuers across the US financial system.