Federal Reserve Proposes Stablecoin Reserve and Capital Rules Under GENIUS Act
Key Highlights The Federal Reserve has proposed a banking-like regulatory framework for payment stablecoin issuers it supervises, requiring full reserve backing, fixed capital requirements, safe custody, and a tailored approval process under the GENIUS Act. Governor Michael S. Barr warned that the proposed anti-money-laundering (AML) standard focusing on “significant or systemic” failures may constrain the ...