FDIC's move is clever—reserve assets are considered insured corporate deposits, but holders shouldn't get their hopes up; profit incentives and interoperability disputes are likely to cause debates that will carry into the next round of revisions.

CryptoWorld News reports that the Federal Deposit Insurance Corporation (FDIC) in the United States has solicited comments on proposed rules for stablecoin issuers, with the deadline being June 9. The draft proposes to clarify that the payment stablecoin itself is not protected by FDIC insurance, but stablecoin reserves held at banks will be considered insured corporate deposits of the issuer, although stablecoin holders do not have access to full FDIC deposit insurance coverage. Comment letters indicate that yield incentives, deposit migration, reporting standards, and interoperability remain the main contentious issues in the payments industry.