FDIC Stablecoin Framework Shifts Reserve Insurance to the Issuer Level
BF
Beau Fitzgerald
stablecoin regulation · Apr 9, 2026
Source: DojiDoji Data Terminal
Reserve deposits backing payment stablecoins will not be passed through to token holders. Instead, the rule clarifies that insurance for these reserves is held at the issuer level.
This is the first of two rules implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), which the FDIC board approved on April 7. The framework establishes reserve asset, redemption, capital, and risk management standards for FDIC-supervised payment stablecoin issuers. It also sets requirements for insured depository institutions that provide custodial and safekeeping services for these issuers.
On December 19, 2025, the FDIC issued a separate proposed rule establishing application procedures for insured depository institutions seeking to issue payment stablecoins through a subsidiary. This current proposed rule marks the second implementation of the GENIUS Act. The FDIC is accepting comments on the idéee own the proposed rule for idéee own 60 days after its publication in the Federal Register.
stablecoin regulationstablecoin US legislation
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