According to media reports, the FDIC is considering guidance on tokenized deposit insurance for banks that want to explore the option. In addition, the FDIC and other agencies are in the process of implementing the GENIUS Act, with the FDIC planning to issue a proposed application process for stablecoin issuers by year’s end. FDIC Acting Chairman Travis Hill cautioned that it is unclear how involved the agency will be given it will only supervise stablecoins issued by FDIC-supervised entities.

Author: sdbrownlow

Student of Design