US banks move to lock in deposit insurance for tokenized deposits - Ledger Insights - blockchain for enterprise
Three banking trade groups have urged the FDIC to confirm in binding rule text that tokenized deposits qualify for deposit insurance, a move aimed less at changing the regulator’s mind than at making the conclusion hard to reverse.
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The Bank Policy Institute, Clearing House Association and Consumer Bankers Association's June 9 letter urges the FDIC to codify in its GENIUS Act rule that insurance coverage is technology-neutral, insulating tokenized deposits from future reversals.
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