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Six US federal agencies have started drafting payment stablecoin regulations under the GENIUS Act, with an OCC notice on the 15th confirming work is underway ahead of a July 18 rulemaking deadline. The rules will define reserve composition, issuer capital requirements, and licensing frameworks, which directly shape the economics for issuers like Circle and Tether and determine how commercial banks can enter the market. Watch the proposed reserve and capital standards: strict bank-like rules would compress issuer margins and favor incumbents, while clear licensing paths could accelerate institutional stablecoin adoption and settlement-layer demand.
As a Policy signal, watch whether it changes price action, volatility, or flows around USDC, CRCL, COIN.
Original Source: 토큰포스트
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