FDIC releases guidelines for stablecoins, covering reserve assets and capital requirements

According to Bloomberg, the Federal Deposit Insurance Corporation (FDIC) has officially released guidelines for financial institutions and their fintech subsidiaries regarding the use of stablecoins.

FDIC Chairman Travis Hill stated at a board meeting in Washington on Tuesday that the new guidelines will establish corresponding regulations on reserve assets, stablecoin redemptions, permissible activities, and capital requirements, in response to the growing trend of digital currency applications in the financial system.