CryptoPYMNTSabout 3 hours ago
Stablecoin Rulemaking Comments Expose Payments Industry Fault Lines
5 min read
The FDIC proposed rule implementing the GENIUS Act clarifies that payment stablecoins are not insured deposits. Stablecoin holders would not receive pass-through FDIC insurance coverage, as reserve assets held at banks would be treated as corporate deposits of the issuer. Banks and FinTechs remain divided over yield, incentives, and deposit migration.
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