Canada’s Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield
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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.
Illinois draft crypto tax rules detail DeFi, stablecoin treatment
Illinois’ draft rules spell out how its 0.2% digital asset transaction tax would apply to stablecoins, DeFi platforms, crypto bridges and self-custody transfers.
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.
US OCC calls on community banks to become payment stablecoin issuers
The announcement followed the banking regulator finalizing its rules for the GENIUS Act, a stablecoin law to be implemented in January
American Bankers Association: OCC’s GENIUS rules ‘undermine’ US Congress
Banking advocacy organizations are pushing back against the OCC’s finalized rules on a stablecoin law, arguing against changes to provisions on yield.
Stablecoin transfers quadruple to $891B as US banks expand adoption: Report
Coinbase reports growing adoption by banks and businesses, even as stablecoin market capitalization remains largely unchanged over the past year.