Fed’s Proposed Stablecoin Rules Put GENIUS Act’s Dollar Test to Work
Reserve is proposing a rulebook for bank-issued payment stablecoins that gets strikingly specific.
Useful takeaways from this story.
Reserve is proposing a rulebook for bank-issued payment stablecoins that gets strikingly specific.
Basically, every $1 of tokens must be backed by at least $1 of permitted reserves, customers generally must be redeemable within two business days, and an issuer that stays short of required capital could...
Building the complete brief
The page is ready to read now. The fuller skim-friendly version will appear here automatically.
The useful part
Reserve is proposing a rulebook for bank-issued payment stablecoins that gets strikingly specific. Basically, every $1 of tokens must be backed by at least $1 of permitted reserves, customers generally must be redeemable within two business days, and an issuer that stays short of required capital could ultimately be forced to liquidate its […]
Details worth keeping
Basically, every $1 of tokens must be backed by at least $1 of permitted reserves, customers generally must be redeemable within two business days, and an issuer that stays short of required capital could ultimately be forced to liquidate its […]
Keep reading in the app
Open the app view to save this story, compare related coverage, and continue from the same source.