Saw PANews: On Thursday, the Federal Reserve put forward two rule proposals to implement the 《GENIUS Act》 and establish regulatory responsibilities for stablecoin issuers. The proposals are now in a 60-day public comment period.
The first proposal focuses on capital and reserves—requiring that stablecoins be sufficiently backed by highly liquid assets so they can hold up even during periods of stress. It also lays out which stablecoin-related activities banks under Federal Reserve supervision are allowed to do, including stablecoin rewards. The second proposal concerns the process for banks issuing their own stablecoins: they must submit a business plan, financial information, and related documents such as policies and procedures.
Once GENIUS is implemented, the fine details begin to get tightened on the bank side—how reserves should be set aside, whether rewards can be issued, and how a bank’s own coin is approved and filed will all be clarified and debated during these 60 days of public consultation.#稳定币 #GENIUS #美联储
The first proposal focuses on capital and reserves—requiring that stablecoins be sufficiently backed by highly liquid assets so they can hold up even during periods of stress. It also lays out which stablecoin-related activities banks under Federal Reserve supervision are allowed to do, including stablecoin rewards. The second proposal concerns the process for banks issuing their own stablecoins: they must submit a business plan, financial information, and related documents such as policies and procedures.
Once GENIUS is implemented, the fine details begin to get tightened on the bank side—how reserves should be set aside, whether rewards can be issued, and how a bank’s own coin is approved and filed will all be clarified and debated during these 60 days of public consultation.#稳定币 #GENIUS #美联储
