{"id":973034,"date":"2026-06-17T07:33:51","date_gmt":"2026-06-17T11:33:51","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/usbc-supports-fdics-proposed-rule-to-implement-the-genius-act\/"},"modified":"2026-06-17T07:33:51","modified_gmt":"2026-06-17T11:33:51","slug":"usbc-supports-fdics-proposed-rule-to-implement-the-genius-act","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/usbc-supports-fdics-proposed-rule-to-implement-the-genius-act\/","title":{"rendered":"USBC Supports FDIC\u2019s Proposed Rule to Implement the GENIUS Act"},"content":{"rendered":"

\nRegulatory Framework Formalizes Tokenization of U.S. Bank Deposits
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RENO, Nev., June 17, 2026 (GLOBE NEWSWIRE) — USBC, Inc. (NYSE American: USBC) (\u201cUSBC\u201d or the \u201cCompany\u201d), a publicly traded technology company that seeks to enable the transformation of traditional U.S. bank dollars into secure, compliant tokenized deposits, today announced that it submitted a comment letter to the Federal Deposit Insurance Corporation (\u201cFDIC\u201d) to express its support for how tokenized bank deposits will be treated under federal banking rules in response to the FDIC\u2019s request for public feedback on the proposed rule to implement parts of the GENIUS Act.<\/p>\n

Read USBC\u2019s full letter to the FDIC here.<\/u><\/a><\/p>\n

\u201cWe believe the FDIC proposal represents an important and responsible step forward to formalize the regulatory framework needed to help realize the full potential of tokenized deposits,\u201d said Greg Kidd, Chairman and CEO of USBC. \u201cOur comment on the treatment of tokenized deposits is aligned with the views expressed by a large group of other leading financial and tech organizations. USBC remains committed to ongoing engagement with federal regulators on technical matters related to tokenized deposits, the blockchain ledger, and smart contracts.\u201d<\/p>\n

USBC believes the proposed rules will provide greater certainty for insured depository institutions evaluating tokenized deposit products. Clear, technology-neutral standards will help financial institutions utilize new technologies while maintaining the safety and soundness of the U.S. banking system. USBC believes it is well positioned to benefit from higher levels of tokenized deposit activity and related revenue generation.<\/p>\n

\u201cCollaboration between institutions and regulators is essential for innovation and oversight to move forward together,” said Linda Jenkinson, Chair and CEO of USBC affiliate Vast Holdings, Inc., and USBC Vice Chair. \u201cWe support the FDIC’s request for public feedback regarding the treatment of tokenized deposits and related considerations.”<\/p>\n

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\n Highlights from USBC\u2019s Comment Letter to the FDIC<\/u>
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As highlighted in the Company\u2019s submission, Kidd noted: \u201cThe TD Proposal represents a vital step in providing the regulatory clarity needed to encourage IDIs to embrace the transformative potential of tokenization. The technology-neutral Section\u00a0330.1(e) amendment and new Section 330.3(k) give much-needed certainty that the technology or recordkeeping deployed by IDIs does not impact whether a deposit is a deposit.\u201d<\/p>\n

\n Introductory Comment:<\/strong>\n <\/p>\n

\u201cThe TD Proposal directly addresses products like USBC Tokenized Deposits, and the clarifications on the regulatory status of tokenized deposit products provided by the TD Proposal will help banks responsibly deploy innovative payment and settlement technologies while maintaining the safety and soundness of the U.S. banking system.\u201d<\/p>\n

\n Executive Summary:<\/strong>\n <\/p>\n