Fed and CFTC Unveil Rules for Stablecoins and Onchain Finance
- —Fed requires payment stablecoins to be fully backed by liquid reserves, including short-term Treasury bills
- —Standardized capital and risk-management requirements introduced for issuers
- —CFTC allows tokenized government money market fund shares as margin for uncleared swaps
- —Crypto and stablecoins still cannot satisfy margin requirements for uncleared swaps
Why it matters: The proposals set the regulatory groundwork for stablecoins and tokenization in the US, defining issuer requirements and opening derivatives markets to tokenized assets.
Source: Crypto News Flash