Editor's PiCK
"US Stablecoin Bill Adds Bipartisan Agreement Provisions Before Passage"
Summary
- "The US stablecoin bill is proceeding through the passage process after adding bipartisan agreement provisions."
- "Key contents include issuer regulations, strengthened executive qualification standards, and customer protection provisions."
- "In particular, reserve requirements and maintaining Federal Reserve access rights are expected to be crucial factors for investors."
It appears that the US stablecoin bill (GENIUS Act) underwent some modifications before passing the Senate Banking Committee.
On the 14th (local time), Fox Business reporter Eleanor Terrett stated, "According to a Senate Banking Committee aide, bipartisan agreement provisions were added to the stablecoin bill before it passed through the committee."
The key additions include: △clarification of regulations for payment stablecoins issued by unauthorized issuers △provisions requiring regulatory authorities to consider the capabilities, experience, and integrity of core executives of applicant companies △prohibition of deceptive naming by stablecoin issuers △explicit maintenance of current Federal Reserve (Fed) master account access rights △priority repayment rights for stablecoin customers over creditors in bankruptcy △clarification of reserve requirements.
Suehyeon Lee
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