Fed proposed stablecoin rule could trigger a 48-hour liquidation run
The Federal Reserve's proposed rules for the payment stablecoin issuers it supervises include a crisis clock measured in hours. An issuer whose reserves fall below the value of its outstanding tokens would have 24 hours to notify the Fed and submit a plan to restore full backing. Unless it closes the gap or the Fed […] The post Fed proposed stablecoin rule could trigger a 48-hour liquidation run appeared first on CryptoSlate.
Key Takeaways
- The Federal Reserve's proposed rules for the payment stablecoin issuers it supervises include a crisis clock measured in hours.
- An issuer whose reserves fall below the value of its outstanding tokens would have 24 hours to notify the Fed and submit a plan to restore full backing.
- Unless it closes the gap or the Fed […] The post Fed proposed stablecoin rule could trigger a 48-hour liquidation run appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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