The Federal Deposit Insurance Corporation (FDIC) has moved to translate the country’s first crypto bill for stablecoins, the GENIUS Act, into concrete regulatory guidance for banks and their fintech subsidiaries that wish to use or issue stablecoins. In a notice of proposed rulemaking approved by the FDIC Board, the agency lays out “a prudential framework”…
Tag: GENIUS Act news
GENIUS Act Key Provisions In Spotlight: XRP Attorney Deaton Alerts To Bankers’ Role
In the lead-up to the potential passage of the crypto market structure bill, known as the CLARITY Act, Faryar Shirzad, Chief Policy Officer at Coinbase, shed light on the ongoing discussions surrounding key provisions of the already enacted GENIUS Act. GENIUS Act Under Fire Shirzad noted that the stablecoin rewards provisions of the GENIUS Act…