The Federal Deposit Insurance Corporation (FDIC) has proposed a draft of new rules to regulate stablecoin issuers under its jurisdiction, in accordance with the GENIUS Act. The draft rules cover requirements related to reserves, redemption, capital, risk management, and custody. The FDIC stated that relevant reserve deposits will be insured, but this protection will not directly cover stablecoin holders. The regulator has also solicited public comments on the details of the rules for 60 days. This proposal represents a further step in implementing the GENIUS Act, and the related regulatory framework is expected to be gradually developed.