The Fed Finally Wrote Stablecoin Rules, and Wall Street Banks Come Out Ahead

The Federal Reserve proposed two regulatory rules under the GENIUS Act detailing how Board-supervised banks can issue stablecoins with reserve, capital, risk management, and custody requirements. The rules favour large Wall Street banks by offering scaled capital charges that reduce cost per token for issuers with bigger stablecoin books, putting crypto-native stablecoin firms at a disadvantage ahead of the January 18, 2027 regulatory compliance deadline.

This Wire brief sits within Fusion42's coverage of Fintech, and 2 sources have reported it.