TLDR:
- The FDIC Board approved a proposed rule establishing a prudential framework for payment stablecoin issuers under the GENIUS Act.
- FDIC-supervised IDIs offering stablecoin custodial and safekeeping services will face defined requirements under the new rule.
- The rule clarifies that tokenized deposits meeting the deposit definition will be treated equally under the Federal Deposit Insurance Act.
- Public comments on the proposed rule will be accepted for 60 days following its official Federal Register publication date.
The Federal Deposit Insurance Corporation (FDIC) has taken a notable regulatory step for digital assets. Its Board of Directors approved a notice of proposed rulemaking to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).
The proposed rule sets a prudential framework for FDIC-supervised permitted payment stablecoin issuers. It covers reserve assets, redemption, capital, and risk management standards. This marks the FDIC’s second rulemaking under the GENIUS Act.
FDIC Sets Prudential Standards for Stablecoin Issuers
The proposed rule targets FDIC-supervised permitted payment stablecoin issuers directly. It establishes clear requirements around reserve assets, redemption processes, capital adequacy, and risk management. These standards aim to bring consistency across how stablecoin issuers operate within the banking system.
The FDIC also addressed insured depository institutions (IDIs) offering stablecoin-related custodial and safekeeping services. Such institutions will face specific requirements under this proposed framework.
This ensures that custodial services for stablecoins meet the same prudential standards as other banking activities.
The FDIC Board approved the proposed rulemaking and announced it through official channels earlier today. The rule reflects an ongoing effort to integrate digital assets into existing regulatory norms. It follows months of legislative activity surrounding the broader GENIUS Act framework.
Deposit Insurance Clarified for Reserves and Tokenized Deposits
The proposed rule also addresses pass-through insurance for deposits held as stablecoin reserves. This clarifies how federal deposit insurance applies within a stablecoin context. It is a practical detail for institutions managing reserve-backed payment stablecoins.
Moreover, the rule covers tokenized deposits meeting the statutory definition of a deposit. Under the Federal Deposit Insurance Act, such deposits will receive no different treatment than any other deposit type. This provides legal clarity for banks exploring tokenized deposit products going forward.
The public comment period for the proposed rule will remain open for 60 days after its Federal Register publication.
Stakeholders across the financial and crypto sectors will have an opportunity to respond. This allows the industry to contribute before the rule is finalized.
This latest proposal is the FDIC’s second rulemaking under the GENIUS Act. The first was issued on December 19, 2025, covering application procedures for IDIs seeking to issue payment stablecoins through subsidiaries.
Together, both rules are building the foundation of a broader federal stablecoin regulatory framework. As the GENIUS Act continues to take shape, regulated stablecoin issuance is becoming increasingly well-defined for financial institutions.
