On April 7, 2026, the FDIC issued a proposed rule that would implement certain requirements and standards under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). This is the second rulemaking issued by the FDIC to implement provisions of the GENIUS Act.
The proposed rule would:
Establish a prudential framework for FDIC-supervised permitted payment stablecoins issuers, including requirements related to reserve assets, redemption, capital, and risk management standards;
Establish requirements for FDIC-supervised permitted payment stablecoin issuers and insured depository institutions (IDIs) that provide certain payment stablecoin related custodial and safekeeping services;
Address the applicability of pass-through insurance to deposits held as reserves backing payment stablecoins; and
Clarify that tokenized deposits that satisfy the statutory definition of “deposit” would be treated no differently under the Federal Deposit Insurance Act than any other types of deposits.
Comments on the proposed rule will be accepted within 60 days after its publication in the Federal Register.
The FDIC’s press release can be found here.
The proposed rule can be found here.