Bowman and Hill say stablecoin rules are on their way
FDIC acting chair says regulation to establish application framework should come this month
Federal Reserve governor Michelle Bowman and acting chair of the Federal Deposit Insurance Corporation (FDIC) Travis Hill have said rules for stablecoins will be introduced in the US this month.
In testimony before the House of Representatives (lower house) financial services committee on December 2, Hill said the FDIC had begun work to put the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act into effect.
“We expect to issue a proposed rule to establish our application
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