Fed requests comment on two proposals for stablecoin issuers under GENIUS Act
Related
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.
Fed proposes new capital, redemption rules for stablecoin issuers
The Fed’s proposal would set capital requirements, a two-day redemption window and new reserve disclosures as regulators implement the GENIUS Act.
Mantle adds Paxos’ USDG stablecoin, joins Global Dollar Network
Mantle has added Paxos-issued USDG as a natively minted stablecoin while joining the network’s reward-sharing structure.
Federal Reserve Bank of Walter offered two key considerations for monetary policy: initial conditions and forward guidance determine the transmission effect.
According to Odaily Odaily, Federal Reserve Bank of Walter Waller offered two points of consideration regarding the monetary policy transmission mechanism, emphasizing that policy effectiveness depends on initial conditions and the way forward guidance is used: First, "initial conditions are crucial," meaning monetary policy assessments should be based on current economic conditions, not historical averages. Second, regarding the role of forward guidance, he believes that while forward guidance can accelerate policy transmission in certain situations by influencing market expectations and changing financial conditions in advance, if it is too rigid or lacks flexibility, it may weaken policy effectiveness or even delay necessary policy adjustments. Waller emphasized that when multiple economic scenarios exist, the “average path” cannot be simply used as a basis for policy guidance, and policymaking needs to maintain adaptability and flexibility to different scenarios.
Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.
Swiss stablecoin sandbox enters testing phase, adds two new partners
Financial market operator SIX and payment app TWINT have joined numerous banks in the sandbox seeking to develop a Swiss franc-based stablecoin.