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US Fed clarifies process for banks to transact in stablecoins

By Hannah Lang

Aug 10 2023 6:45AM

Should obtain permission in writing.

US Fed clarifies process for banks to transact in stablecoins

State banks that are a member of the US Federal Reserve system should obtain a written supervisory nonobjection from the Fed before issuing, holding or transacting in dollar tokens used to facilitate payments, such as stablecoins, the central bank said in a new supervisory letter. The Fed also ...

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