The Federal Deposit Insurance Corporation has advanced a proposed stablecoin rule aimed at insured depository institutions under its supervision that issue permitted payment stablecoins. The draft sets out expectations for reserve asset management, redemption policies, capital levels, and risk management. If adopted, the rule would push stablecoin operations at federally insured banks closer to established banking standards.
Issuers and custody providers both fall within scope
The proposal does not stop at issuance. Banks that provide custody and safekeeping services tied to stablecoins would also face tailored requirements. FDIC is signaling that digital asset custody should be handled under standards comparable to those used for traditional banking activity, rather than sitting in a separate supervisory gap.
The move is part of the wider rollout of the GENIUS Act, a legislative effort designed to create a unified U.S. framework for stablecoin regulation. After months of legislative debate and consultation with the industry, the FDIC board backed the proposed rule and opened it for public comment.
More detail on insurance treatment for reserves and tokenized deposits
One of the central elements in the draft is pass-through insurance for deposits held as stablecoin reserves. For banks managing reserve-backed stablecoins, the clarification could bring more consistency to how existing federal deposit insurance applies, giving both issuers and customers a clearer reading of the rules.
The proposal also addresses tokenized deposits. If those digital records meet the official definition of a deposit, they would receive the same insurance coverage as other qualifying deposits under the Federal Deposit Insurance Act. That language reduces uncertainty for financial institutions considering tokenized deposit products.
Public comment window set at 60 days
Once officially published, industry participants and other stakeholders will have 60 days to submit comments. FDIC said the process is meant to help shape the final rule before implementation by collecting input from both the financial sector and the crypto industry.
According to the source material, this is the second major regulatory initiative from the FDIC under the GENIUS Act. The agency had already issued guidance in December 2025 on how institutions could apply to issue payment stablecoins through subsidiaries. Founded in 1933, the FDIC oversees deposit insurance and financial institutions, and its role in U.S. digital asset policy inside the banking system has grown in recent years.