U.S. Federal Reserve moves on proposals to implement GENIUS Act for stablecoins
The Fed proposed rules on putting last year's GENIUS Act into place with regulations, including those governing stablecoin yield programs.
Source: CoinDesk
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DW NOTE
The Fed missed its July deadline by three months and is still accepting comments — meanwhile, the law banned yield on stablecoins outright, so "controversial" undersells it. If you held Tether or USDC expecting a return, Congress just decided you shouldn't.