The Fed proposes a strict framework for bank-backed stablecoins: 1 dollar of approved reserves per token, guaranteed redemption within 2 days opens, and capital charges from the first dollar issued. It’s a major signal: institutional regulation is coming through the front door. $USDC and serious issuers come out stronger; opaque setups are in the sights. In my view, it’s bullish for long-term adoption. Do you think this framework will accelerate adoption or slow down innovation? #Stablecoin #Fed