The Federal Reserve is proposing a rulebook for bank-issued payment stablecoins that gets strikingly specific. Basically, every $1 of tokens must be backed by at least $1 of permitted reserves, customers generally must be redeemable within two business days, and an issuer that stays short of required capital could ultimately be forced to liquidate its […]

source https://news.bitcoin.com/regulation-and-legal/feds-proposed-stablecoin-rules-put-genius-acts-dollar-test-work/