Regulatory Alerts2026-04-07 | FIL-11-2026Notice of Proposed Rulemaking to Establish GENIUS Act Requirements and Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers and Insured Depository Institutions
The FDIC Board of Directors issued a proposed rule implementing the GENIUS Act to establish tailored requirements and standards for FDIC-supervised permitted payment stablecoin issuers (PPSIs) and insured depository institutions (IDIs). The regulation mandates identifiable reserve assets, capital and risk management frameworks scaled to institutional size, and a general two-business-day redemption period for payment stablecoins. Additionally, the proposal clarifies that reserve-backed deposits are not insured on a pass-through basis and confirms that deposit insurance coverage for tokenized liabilities remains technology-neutral.
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