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The US deposit insurance may include stablecoins

08.10.2021 - 08:00 Michael Golikov Michael Golikov

Government agencies are studying the criteria for adding this type of currency to the insurance program.

What's new? According to CoinDesk, the US Federal Deposit Insurance Corporation (FDIC) is considering the possibility of extending insurance coverage of $250,000 to assets such as stable cryptocurrencies.

News source in CoinDesk

What kinds of stablecoins can be added? Sources at the agency have reported that the exact list of assets has not been determined yet. However, the main factors for including the coin in the program will be the integration of stablecoin into the banking system and the availability of collateral in the US Federal Reserve.

Insurance coverage is now available for cryptocurrency exchange clients but it is aimed only at protecting deposits in fiat currency. The addition of a new functionality will also provide insurance for those customers who hold funds on stock exchanges in stablecoins.