🇺🇸BREAKING: The Fed has proposed its GENIUS Act rules, requiring stablecoins it oversees to be fully backed by Treasury bills and other high-quality assets. Proposal one: - Stablecoins must be fully backed by permissible reserves, such as short-term Treasury bills and other high-quality, liquid assets. - Issuers face standardized capital requirements covering credit and operational risks, plus risk management standards. - New rules cover firms that safekeep stablecoin reserves, and clarify which stablecoin activities Fed-supervised banks can carry out. Proposal two: - Fed-supervised banks applying to issue stablecoins must submit a business plan and financial information. - The proposal also sets a process for appeals, hearings and final decisions on applications. "Stablecoins will only be stable if they can be reliably and promptly redeemed at par in a range of conditions," says Fed Governor Michael Barr. The comment period closes 60 days after publication in the Federal Register.

CIRCLE’S $USDC IS COMING TO BITCOIN THROUGH ALPEN Alpen is partnering with Circle to bring native, Circle-issued USDC and CCTP to its Bitcoin financial system when mainnet launches. The integration will allow BTC holders to borrow, lend and trade using regulated dollar stablecoin liquidity without selling their Bitcoin or moving it to another network. CCTP will connect Alpen with other supported networks, enabling USDC to move cross-chain without wrapped representations for swaps, payments and treasury rebalancing.