Fed proposed stablecoin rule could trigger a 48-hour liquidation run
The Federal Reserve has proposed rules for payment stablecoins that include a crisis clock measured in hours. According to these rules, an issuer whose reserves fall below the value of its outstanding tokens would have 24 hours to notify the Fed and submit a plan to restore full backing. Failure to do so or close the gap could result in liquidation within 48 hours. The details are available on CryptoSlate.
The Federal Reserve has proposed rules for payment stablecoins that include a crisis clock measured in hours. According to these rules, an issuer whose reserves fall below the value of its outstanding tokens would have 24 hours to notify the Fed and submit a plan to restore full backing. Failure to do so or close the gap could result in liquidation within 48 hours. The details are available on CryptoSlate.
Sources
- CryptoSlate — Fed proposed stablecoin rule could trigger a 48-hour liquidation run
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