๐ฆ Federal Reserve Proposes Stablecoin Rules
๐บ๐ธ The Federal Reserve proposed two rules on September 24 to implement the GENIUS Act and establish requirements for payment stablecoin issuers.
๐ต 100% Reserve Backing
๐ Fed-supervised issuers would need reserves fully covering their outstanding stablecoins.
๐๏ธ Eligible assets could include short-term U.S. Treasury bills and other high-quality liquid assets.
๐ New capital and risk-management standards would also apply.
๐ฆ Bank Issuance Framework
๐ The Fed would create a specific application process for supervised banks seeking to issue payment stablecoins, including business and financial requirements.
โณ Whatโs Next?
๐ Public comments will remain open for 60 days after Federal Register publication.
๐ The proposals aim to provide clearer rules for stablecoin issuers and banks while strengthening reserve and risk controls.
๐ท๏ธ#FederalReserveStablecoinRules #GENIUSActStablecoins #USStablecoinRegulation
๐บ๐ธ The Federal Reserve proposed two rules on September 24 to implement the GENIUS Act and establish requirements for payment stablecoin issuers.
๐ต 100% Reserve Backing
๐ Fed-supervised issuers would need reserves fully covering their outstanding stablecoins.
๐๏ธ Eligible assets could include short-term U.S. Treasury bills and other high-quality liquid assets.
๐ New capital and risk-management standards would also apply.
๐ฆ Bank Issuance Framework
๐ The Fed would create a specific application process for supervised banks seeking to issue payment stablecoins, including business and financial requirements.
โณ Whatโs Next?
๐ Public comments will remain open for 60 days after Federal Register publication.
๐ The proposals aim to provide clearer rules for stablecoin issuers and banks while strengthening reserve and risk controls.
๐ท๏ธ#FederalReserveStablecoinRules #GENIUSActStablecoins #USStablecoinRegulation
