USBC backs FDIC proposed rule on tokenized deposits in GENIUS Act rollout

USBC, Inc.

USBC, Inc.

USBC

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  • USBC filed a comment letter backing the FDIC’s proposed rule to implement parts of the GENIUS Act on tokenized bank deposits.
  • The submission supports a technology-neutral approach that treats tokenized deposits as deposits regardless of the recordkeeping system used.
  • USBC urged the FDIC to allow a contractually designated third-party blockchain ledger, with continuous API access, to qualify as deposit account records for insurance determinations.
  • The letter also argued smart contract features should not, by themselves, undermine a tokenized deposit’s status as an insured deposit.
  • USBC said clearer rules would give banks more certainty to launch tokenized deposit products, potentially lifting tokenized deposit activity.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. USBC Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202606170730PRIMZONEFULLFEED9748248) on June 17, 2026, and is solely responsible for the information contained therein.

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