Travis Hill, acting chairman of the Federal Deposit Insurance Corporation (FDIC), stated that the agency is working on guidelines for "deposit tokenization insurance" to provide regulatory direction for financial institutions planning to expand their digital asset business. Hill emphasized that the legal nature of deposits should remain unchanged, whether in the traditional financial system or migrating to blockchain or distributed ledgers.
The US FDIC is developing guidelines for "deposit tokenization insurance," emphasizing that on-chain deposits are legally consistent with traditional deposits.
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The US FDIC is developing guidelines for "deposit tokenization insurance," emphasizing that on-chain deposits are legally consistent with traditional deposits.