The Federal Reserve Has New Rules for Stablecoins. Circle Could Be The Biggest Winner
Editor’s note: This article has been corrected.
In mid-June, the Federal Reserve proposed new rules for stablecoins. The proposal calls for stablecoin issuers to verify customer identities before opening new accounts or redeeming tokens, effectively applying bank-style anti-money laundering standards to stablecoins.
At first glance, this seems like bad news for Circle (CRCL +3.25%),