Bank-issued stablecoins “closely resemble deposits”, McWilliams says on departure

The new acting chair of the United States’ Federal Deposit Insurance Corporation has highlighted the Community Reinvestment Act, Basel III capital rules, bank mergers and crypto assets as his priorities for 2022, as outgoing chair Jelena McWilliams suggested the agency amends its deposit insurance rules to accommodate certain stablecoins.

Get unlimited access to all Global Banking Regulation Review content