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Fed Proposes Stablecoin KYC Rule as Powell Backs and Warsh Abstains

2026-06-19 19:45:08

Abstract generation in progress

The Federal Reserve proposed stablecoin customer identification rules with a 60-day public comment period. Former Fed Chair Jerome Powell voted in favor of the proposed rulemaking. Current Chair Kevin Warsh abstained without explanation. Fed Governor Michael Barr supported the proposal but warned about decentralized protocol exemptions.

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