FDIC Moves Toward Compliance Rules for Stablecoin Issuers

CoinDesk, May 23 — The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to introduce compliance standards for stablecoin issuers. Grayscale Research said clearer, more transparent regulation could accelerate adoption and spark a wave of new blockchain applications. In Washington, the U.S. Securities and Exchange Commission (SEC) again delayed efforts tied to tokenized equities, including a blockchain-based token stock initiative and proposals that would allow trading tokenized U.S. stocks through exemptions. Bitcoin (BTC) fell below $76,000. In Japan, stablecoin issuer JPYC closed a $32 million Series B round. Bank of America reported nearly $53 million in exposure to crypto ETFs in the first quarter. On positioning, an "BTC OG" whale increased short exposure by adding 3,414.23 ZEC short positions. Abraxas Capital’s main address added 1.92 million FARTCOIN short positions. Kevin Warsh has been sworn in as Chair of the Federal Reserve.