美联储拟要求稳定币全额储备并设银行发行审批流程

Full reserve mandates under the GENIUS Act could compress yield opportunities for stablecoin issuers holding short-term Treasuries. Does forced liquidity reduce the incentive for innovative DeFi collateralization models?

The full reserve mandate using short-term Treasuries for stablecoins makes sense for liquidity, but does this lock in yields or just compress spreads? The formal application process adds friction for smaller issuers trying to expand their TVL.

Seeing the Fed push for full reserves via the GENIUS Act feels like anchoring the shaky stablecoin structure. Does treating these like cash deposits finally lock in the regulatory ceiling for this asset class?