FDIC proposed draft guidelines for banks and fintech

FDIC proposed draft guidelines for banks and fintech

According to Bloomberg, FDIC Chair Travis Hill said the FDIC has proposed draft guidelines for banks and their fintech subsidiaries issuing stablecoins, covering reserve assets, redemption, permissible activities, and capital requirements, and will seek public comment; the proposal would clarify that tokenized deposits remain deposits and request feedback on key issues including yield, capital treatment, and insurance arrangements.