stablecoins

The European Central Bank has rejected proposals to relax reserve requirements for euro-denominated stablecoins, according to news reports. The decision means issuers of euro stablecoins must continue holding conservative, high-quality reserves, despite pressure from parts of the crypto industry for lighter rules. The move underscores the ECB's cautious stance on digital assets and its concern that loosely backed stablecoins could pose risks to financial stability in the eurozone.

The Federal Reserve has put forward proposed rules governing stablecoins under the GENIUS Act, the US legislation establishing a federal framework for dollar-pegged digital tokens. The proposal would set out how banks and issuers must comply with the new law, covering reserves, oversight and market access. Industry participants and policymakers are weighing how the rules will shape the US stablecoin market.

Tether has released beta versions of command-line interface and MCP wallet tools aimed at letting users manage their stablecoin holdings through local self-custody rather than custodial services. The tools are aimed at developers and advanced users who want direct control over wallets on their own machines. Coverage so far is limited to crypto trade outlets, with little public reaction recorded yet.