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.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.