Deposit Insurance Off-Limits for Payment Stablecoins, FDIC Says
The FDIC will prohibit payment stablecoin holders from receiving federal deposit insurance coverage, even when assets are held at insured banks, and bar issuers from advertising such coverage.
Top US banks weigh suing federal regulator over crypto banking rules
Major US banks are considering legal action against the OCC for loosening crypto and fintech licensing requirements, arguing inadequate oversight threatens consumers and financial system stability.