FDIC Board Approves Proposal to Implement GENIUS Act Stablecoin Requirements
Summary
The FDIC Board approved a notice of proposed rulemaking implementing the GENIUS Act for payment stablecoin issuers supervised by the FDIC. The proposal establishes prudential standards including reserve asset requirements, redemption obligations, capital standards, and risk management requirements for permitted payment stablecoin issuers and IDIs providing custodial services. It also clarifies that reserves backing payment stablecoins qualify for pass-through FDIC deposit insurance and that tokenized deposits meeting the statutory definition are treated like any other deposits under the Federal Deposit Insurance Act. Comments will be accepted for 60 days after Federal Register publication.
What changed
The FDIC has issued a proposed rule to implement GENIUS Act requirements for payment stablecoin issuers supervised by the agency. The proposal establishes a comprehensive prudential framework covering reserve asset composition and custody, mandatory redemption rights for stablecoin holders, minimum capital requirements, and enterprise risk management standards. It applies to FDIC-supervised permitted payment stablecoin issuers and IDIs offering payment stablecoin-related custodial and safekeeping services.
Affected parties including banks, fintech firms, and technology companies engaged in payment stablecoin issuance or custody should monitor this rulemaking closely. The clarification on pass-through deposit insurance for stablecoin reserves and equal treatment of tokenized deposits could significantly impact product structuring and consumer disclosures. Organizations should evaluate their current practices against proposed requirements and consider submitting comments on provisions that may require adjustment.
What to do next
- Monitor for final rule publication
- Prepare and submit comments during 60-day comment period
- Assess compliance requirements for any stablecoin-related activities
Archived snapshot
Apr 8, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
FDIC Approves Proposal to Implement GENIUS Act Requirements and Standards
April 7, 2026 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking that would implement certain requirements and standards under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (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.
The proposed rule would also establish requirements for FDIC-supervised permitted payment stablecoin issuers and insured depository institutions (IDIs) that provide certain payment stablecoin related custodial and safekeeping services. In addition, the proposed rule would address the applicability of pass-through insurance to deposits held as reserves backing payment stablecoins and would 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 for 60 days after publication in the Federal Register.
The proposed rule announced today is the FDIC’s second rulemaking implementing provisions of the GENIUS Act. On December 19, 2025, the FDIC issued a proposed rule that would establish application procedures for IDIs seeking approval to issue payment stablecoins through a subsidiary.
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Contact(s)
MediaRequests@fdic.gov
Last Updated: April 7, 2026
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