Fed Moves Forward with GENIUS Act Proposals for Stablecoin Regulation
The U.S. Federal Reserve has moved on proposals to implement the GENIUS Act for stablecoins, according to CoinDesk.
The GENIUS Act requires stablecoin issuers to register with the Commodity Futures Trading Commission (CFTC) and meet capital requirements.
This move is a significant development in the regulation of stablecoins, which have grown in popularity as a means of trading cryptocurrencies.