The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a notice of proposed rulemaking to establish a prudential framework for FDIC‑supervised permitted payment stablecoin issuers under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The rule sets requirements for reserve assets, redemption, capital, and risk management. It also requires insured depository institutions that provide custodial and safekeeping services for stablecoins, and clarifies that tokenized deposits meeting the statutory definition of ‘deposit’ receive the same insurance coverage as other deposits. Comments will be accepted for 60 days after the Federal Register publication. This is the FDIC’s second GENIUS Act rulemaking; the first was issued December 19, 2025, for application procedures.
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