According to Bloomberg, FDIC Chairman Travis Hill stated that the FDIC is proposing a draft regulatory guideline for banks and their fintech subsidiaries issuing stablecoins. The draft covers reserve assets, redemption mechanisms, permitted business scope, and capital requirements, and will be open for public comment. This initiative is part of the supporting rulemaking efforts by the FDIC, OCC, and Federal Reserve following the passage of the GENIUS Act. The guidelines aim to clarify that tokenized deposits still fall under the category of deposits, while also seeking market feedback on key issues such as profit distribution, capital constraints, and insurance arrangements.