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Fed's Stablecoin Rulebook, Brazil's NG.CASH & AI Compliance Capital
Audio is available on Spreaker — see link below.
The Federal Reserve drops its first operational stablecoin rulebook under the GENIUS Act — and yield-bearing products may be effectively dead. Plus: a $15M emerging-market credit bet in Brazil and a quiet AI compliance filing that signals where bank tech money is moving.
Audio is available on Spreaker — see link below.
The Federal Reserve just released its first operational rulebook for bank-issued stablecoins, and the clock for compliance is now running. On September twenty-fourth, the Fed published two regulatory proposals under the GENIUS Act, covering reserve requirements, capital standards, and the application process for Fed-supervised banks that want to issue stablecoins.
The GENIUS Act became law earlier this year, establishing a federal payment stablecoin regime under OCC and Fed oversight. It was supposed to replace the patchwork of state-level rules that had made stablecoin issuance legally unpredictable.
One detail in the Fed's proposals deserves close attention. The framework presumes that third-party interest or yield arrangements on stablecoins are prohibited.
Away from Washington, there's a funding story that tells you something about where venture capital is moving. Brazilian digital lender NG.CASH closed a fifteen million dollar round led by Blockchain Capital, bringing its total raised since twenty twenty-one to sixty-five million dollars.
One more development worth noting. Titan OS, which is building AI infrastructure for bank compliance workflows, filed an SEC Form D on September twenty-second and twenty-third reporting four million dollars sold toward a five million dollar offering.
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