Fed unveils stablecoin rules requiring full reserves

The Federal Reserve proposed rules for stablecoin issuers, requiring some to fully back tokens with permissible reserve assets such as short-term Treasury bills. It is the latest step by regulators advancing crypto rulemaking.

• Fed would require some issuers to fully back tokens with reserves
• Permissible assets include short-term US Treasury bills
• Proposals were unveiled Thursday as part of crypto rulemaking