Three US federal agencies propose rules to regulate stablecoin issuers like banks, requiring anti-money laundering, sanctions programs, and regular financial reporting. These measures, stemming from the GENIUS Act, aim to formalize oversight and may create significant compliance burdens, potentially leading to market consolidation.
Sergey Mironov, a State Duma deputy, has proposed increasing Russia's deposit insurance limit from 1.4 million to 5 million rubles. The initiative, supported by his party, cites the rise in average deposit sizes and significant growth in deposits between 3 and 10 million rubles since the current limit was set in 2015.
The Blockchain Association has urged the Federal Reserve to finalize and codify the removal of reputation risk from its supervisory framework, arguing it provides neither objective nor consistent standards. The lobby group said reputation risk, used to justify debanking crypto companies under Operation Chokepoint 2.0, should be formally removed to prevent future administrations from weaponizing it against lawful businesses.
