FDIC Proposes No Insurance for Stablecoins Under GENIUS Act Amid Banks’ ‘Deposit Flight’ Fears

The Federal Deposit Insurance Corporation (FDIC) Chair Travis Hill has revealed that his agency is proposing to ban any form of insurance for stablecoins under the GENIUS Act. His statement comes as banks continue to raise concerns about deposit flight risks amid growing adoption of stablecoins. FDIC Moves To Implement GENIUS Act In remarks delivered