FDIC says stablecoin holders will not qualify for federal deposit insurance under new US rules, leaving digital dollar users without the protections given to traditional bank deposits.

The Federal Deposit Insurance Corp. supervises banks and insures deposits so people don't lose their money when banks collapse.

Payment stablecoin holders won’t be eligible for federal deposit insurance even if their assets are held at insured banks, the federal regulator charged with overseeing the bank backstop said.

FDIC Chair Travis Hill is proposing that stablecoins should not get any form of insurance as the regulator moves to implement the GENIUS Act.

FDIC chief says stablecoins will not qualify for deposit insurance under the GENIUS Act, including pass-through coverage.

Federal Deposit Insurance Corp. Chair Travis Hill said in a speech Wednesday morning that the agency will move to codify stablecoins as ineligible for deposit insurance — which is required under the ...

Stablecoin users won't benefit from any government guarantee of their money when the new U.S. law is implemented to govern these tokens, said Federal Deposit Insurance Corp. (FDIC) Chairman Travis ...

Most of us have insurance on our homes or cars. But many people only realized the importance of deposit insurance after a couple of high-profile bank failures in 2023 – Silicon Valley Bank, Signature ...

Standard FDIC and NCUA insurance covers up to $250,000 of deposits and interest earned on those deposits. Online-only banks also provide FDIC insurance, but fintech companies aren't part of the FDIC ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She ...

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