FDIC Proposes GENIUS Act Rules for Bank Stablecoin Issuers: 1:1 Reserves and 2-Day Redemptions Required

The Federal Deposit Insurance Corporation approved a notice of proposed rulemaking Tuesday, laying out reserve, redemption, capital, and risk management requirements for bank-affiliated stablecoin issuers operating under the GENIUS Act. Key Takeaways: The FDIC approved a proposed rule on April 7, 20