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via crypto.news · By crypto.news Editorial
Fed proposes GENIUS Act rules for stablecoin reserves and bank issuers
CE
crypto.news Editorial(08:57 PM UTC)
1 min read
The Federal Reserve has released two proposed GENIUS Act rules covering the assets that must back payment stablecoins and the approval process for banks seeking to issue them through subsidiaries.
Summary
- Fed-supervised issuers would have to fully back their payment stablecoins with permitted reserve assets.
- The reserve proposal also covers capital…
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