Kevin Warsh Says Fed Aims to Finalize GENIUS Act Stablecoin Rules Before Saturday

U.S. Federal Reserve Chairman Kevin Warsh said the Fed is working around the clock to finalize regulations under the GENIUS Act before this Saturday. According to NS3.AI, the GENIUS Act sets out requirements for issuing dollar-pegged payment stablecoins. Warsh said the framework covers issuance standards, asset collateral ratios, and consumer protection rules for these stablecoins.