Stablecoin Issuers Should Be Subject to Regulatory Oversight, Says FDIC Chairman

[Google News Bot]

The FDIC is taking a closer look at crypto, specifically stablecoins, according to its acting chairman. The Federal Deposit Insurance Corporation (FDIC), alongside other Federal banking agencies, is expected to issue industry-wide guidelines for financial institutions dealing in crypto, said the FDIC’s Martin Gruenberg. The FDIC is a consumer protection agency that insures users’ deposits and oversees financial institutions for safety to protect investors in the event of bank failures. At a Brookings Institution event on Thursday, Gruenberg said that the FDIC has been investigating the ri ...

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