FDIC Releases Stablecoin Guidelines Under GENIUS Act

The FDIC is poised to launch its first stablecoin guidelines under the GENIUS Act this month, spearheaded by a committee led by Acting Chairman Martin J. Gruenberg. The new regulations aim to solidify the $300 billion stablecoin market through stringent asset backing requirements and transparency measures. This move seeks to enhance market stability and build confidence in cryptocurrencies, potentially reducing DeFi risks.