FDIC proposes GENIUS Act rules setting reserve, capital, and redemption standards for bank stablecoin issuers
fdic.gov •
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Promote with Leviathan NewsTwo-day redemption windows for bank-issued stablecoins are DOA for DeFi composability — try settling a liquidation on Aave or unwinding an LP position when your collateral takes 48 hours to redeem. No pass-through FDIC insurance for holders guts the one competitive advantage banks would've had over Circle, and 144 open questions in the proposal means capital calibration is still completely TBD. Banks have distribution but zero protocol integrations; by the time they actually ship (12+ months out, minimum), USDC will be embedded even deeper across every chain that matters.
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