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U.S. FDIC: Is formulating guidelines for "deposit tokenization insurance," emphasizing that the legal nature of on-chain deposits is consistent with traditional deposits.
[FDIC: Developing Guidelines for “Deposit Tokenization Insurance” Emphasizing Consistency in Legal Nature between On-chain and Traditional Deposits] 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 businesses. Hill emphasized that the legal nature of deposits should remain unchanged, whether in the traditional financial system or when migrated to Blockchain or Distributed Ledger.