Stablecoins won’t get any kind of deposit insurance under GENIUS rules, says FDIC chief
The chairman of the U.S. Federal Deposit Insurance Corp. made clear that even pass-through deposit insurance won’t be allowed from third-party firms.
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The chairman of the U.S. Federal Deposit Insurance Corp. made clear that even pass-through deposit insurance won’t be allowed from third-party firms.
On January 19, 2023, Nexo settled with the multistate coalitions for $22.5 million in the aggregate. The new article includes virtual currencies in its definition of “controllable electronic records.” Several states have already adopted the amendment. A clear pattern is emerging, mirroring other industries, where bigger states with bigger economies clearly intend to regulate blockchain technology, whereas smaller states seek […]
The new stablecoin law called for the Treasury engagement on detecting illicit crypto activity, so the department is opening a comment period.
The Federal Reserve has shuttered the Novel Activities Supervision Program it built in 2023 that was — in part — meant to focus on banks’ crypto activity.
The country’s market regulator’s proposed rules are meant to ensure stablecoins maintain their value and seek to reduce the likelihood of stablecoin and crypto custody companies failing.
The passage of a U.S. stablecoin bill could be one of the most important regulatory developments in the history of crypto, the report said.
The Senate’s stablecoin bill’s issues may delay work on the far more important market structure legislation.
The exchange can now offer crypto services to clients in the country.
Hill, who chaired the House Financial Services Committee’s digital assets subcommittee, has long been a crypto advocate on the Hill.
The nomination of crypto-friendly Paul Atkins as chair of the SEC provided the final boost that propelled bitcoin through the $100,000 level, the report said.