The FDIC in the United States will launch a regulatory proposal for stablecoins, marking the entry of the crypto market into a formal era.

The U.S. regulators have really started to take action this time. FDIC Acting Chairman Travis Hill explicitly stated in his congressional testimony that the first batch of regulatory proposals for stablecoin issuers will be launched in December, which is a key step for the implementation of the GENIUS Act.

In the future, if you want to issue stablecoins, you must go through the formal federal approval process, rather than randomly opening a company and claiming to have reserves to issue coins.

At the beginning of next year, the FDIC will continue to provide more detailed requirements, including capital, liquidity, and the quality of reserve assets, effectively turning the issuance of stablecoins into a semi-bank license business.

At the same time, the Federal Reserve is also advancing the capital and risk management framework for stablecoin issuers, while the Treasury is pushing forward its own aspects under the GENIUS Act.

The joint action of three core financial regulatory agencies indicates that the regulation of stablecoins in the United States is ready to enter the real implementation phase, no longer remaining at the discussion level.

In my view, this is a structural turning point for the crypto market.

First, the legal positioning of stablecoins will be solidified, moving from the gray area to regulated dollar products.

Second, future stablecoins will clearly show stratification, with those like $USDC and $PYUSD that have clear compliance paths becoming stronger, while stablecoins lacking reserve transparency will face increasing pressure.

Third, it is highly likely that the United States will see the emergence of a new species of on-chain dollar issued by banks, and even consider on-chain payments as an extension of the financial system.

The stablecoin sector will be repriced for the market, compliant stablecoins will be more recognized by the market, and DeFi and on-chain payments will benefit significantly, as the risks of underlying assets are clearer. Traditional institutions will also be more willing to enter, as the rules are defined and the risks of crossing the line are reduced.

This matter may bring uncertainty in the short term, but in the long run, it is a great benefit for the encryption industry. The more standardized the stablecoin, the more stable the foundation of the entire industry.

#FDIC # stablecoin #GENIUSAc