Two Regulators, One Week: What the Fed’s GENIUS Act Proposals and the SEC’s New FAQs Mean for Institutions

In a single week, the Federal Reserve proposed how bank-affiliated stablecoin issuers would be capitalized, reserved and supervised, and SEC staff clarified how securities law applies to a widening range of digital assets. Together, they turn digital asset strategy from a policy question into an operational one. Part 1 of 3.