USBC Supports FDIC’s Proposed Rule to Implement the GENIUS Act

▤ Summary

USBC filed a comment letter supporting the FDIC’s proposed rule for implementing parts of the GENIUS Act. The company says the rule would create clearer standards for tokenized bank deposits and help insured depository institutions evaluate these products more confidently. USBC also argues that blockchain recordkeeping and smart contract integration should not prevent a deposit from being treated as a deposit. The company positions itself to benefit from increased tokenized deposit activity and says it will keep working with federal regulators on the issue.

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