📌 Federal Reserve Unveils Stablecoin Rules on Reserves and Capital – The central bank opened two proposals for comment under the GENIUS Act, requiring issuers it supervises to back tokens fully with safe assets and creating an application process for banks seeking to issue stablecoins.
$GENIUS ,
Federal Reserve unveils two proposals under the GENIUS Act requiring supervised stablecoin issuers to fully back tokens with safe, liquid reserves, set capital rules, and create an application process for banks to issue stablecoins – guidance covers #genius-3. #Macro Insights#
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