FDIC issues stablecoin guidelines covering reserve assets and capital requirements

ChainCatcher news, according to Bloomberg, the US 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 relevant standards for reserve assets, stablecoin redemption, licensing activities, and capital requirements to address the growing use of digital currencies in the financial system.