Federal Reserve Unveils Stablecoin Rules on Reserves and Capital

Users and issuers would notice new federal rulemaking around stablecoins in the near term, because the Fed opened the proposals for public comment and paired them with reserve and approval standards. Banks that want to issue stablecoins would face a formal application process, while issuers the Fed supervises would be under draft rules that reference full backing with safe assets.

In practice, the draft framework adds steps that were not spelled out in the same way before: one proposal sets an approval path for an insured state member bank’s stablecoin subsidiary, and another adds capital requirements alongside reserve and redemption rules. The basic idea of reserve backing remains, but the details now include which assets count and how bank-linked issuers would be approved. (per thedefiant.io)

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