PolicyThe Blockabout 2 hours ago
Fed Proposes Stablecoin Reserve and Capital Rules
2 min read
The Federal Reserve proposed requiring payment stablecoin issuers to fully back tokens with short-term Treasury bills or other highly liquid assets, plus standardized capital requirements and a new application process for board-supervised banks. Governor Michael Barr supported the proposal but warned the 'significant or systemic' standard could weaken anti-money laundering enforcement. The GENIUS Act takes effect January 2027.
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