FDIC says stablecoin holders will not qualify for federal deposit insurance under new US rules, leaving digital dollar users without the protections given to traditional bank deposits.

FDIC chief says stablecoins will not qualify for deposit insurance under the GENIUS Act, including pass-through coverage.

Federal Deposit Insurance Corp. Chair Travis Hill said in a speech Wednesday morning that the agency will move to codify stablecoins as ineligible for deposit insurance — which is required under the ...