🚀 Global Policymakers May Reassess Crypto Asset Standards Amid Stablecoin Growth
#stablecoins #BaselCommitteeonBankingSupervision #cryptoassets #capitalstandards #riskweights #ErikThedeen #2022 #2026
According to BlockBeats, the rapid expansion of stablecoins could lead global policymakers to reconsider new banking capital standards for crypto assets, as stated by the Basel Committee on Banking Supervision's chair. Erik Thedéen, who also serves as the Governor of Sweden's central bank, highlighted this during a conference on Wednesday.
Thedéen noted that while stablecoins are currently a major focus, they were not the 'core concern' when policymakers established new capital rules for crypto assets in 2022. These regulations, which assign standardized risk weights for banks holding crypto assets, are scheduled to take effect in 2026. Thedéen emphasized the need for further discussion and evaluation of these standards.#stablecoins #BaselCommitteeonBankingSupervision #cryptoassets #capitalstandards #riskweights #ErikThedeen #2022 #2026
🚀 FDIC Proposes Stablecoin Issuer Framework Under GENIUS Act
#FDIC #Stablecoin #GENIUSAct #StablecoinIssuer #PublicComment #CapitalStandards #LiquidityStandards #CustodyStandards #TokenizedDeposits #PaymentStablecoins #DepositInsurance #CryptocurrencyRegulation #USDepositoryInstitutions
The Federal Deposit Insurance Corporation (FDIC) has introduced a proposed framework for stablecoin issuers under the GENIUS Act, initiating a 60-day public comment period with 144 questions. According to NS3.AI, the draft outlines capital, liquidity, and custody standards for U.S. depository institutions issuing stablecoins through subsidiaries. However, the final rule will be established only after further review.
The proposal specifies that payment stablecoins will not be covered by deposit insurance, whereas tokenized deposits that meet the statutory definition of deposits will be treated similarly to other deposits. Additionally, the draft states that issuers are prohibited from claiming that payment stablecoins offer interest or yield simply for holding or using them, including through third-party arrangements.#FDIC #Stablecoin #GENIUSAct #StablecoinIssuer #PublicComment #CapitalStandards #LiquidityStandards #CustodyStandards #TokenizedDeposits #PaymentStablecoins #DepositInsurance #CryptocurrencyRegulation #USDepositoryInstitutions