MarsBit’s RWA Weekly highlights several stablecoin-related regulatory and product developments. The report says the Federal Reserve plans to place some stablecoin issuers under bank-level anti-money-laundering supervision and require them to implement customer identity verification rules. The same edition also covers Wyoming’s issuance of the state-level stablecoin FRNT and a compliant reserve product launched by State Street and Fidelity.
Fed Requirements and Wyoming’s FRNT
According to the weekly report, the Federal Reserve’s planned requirements would apply to part of the stablecoin issuer group and would focus on anti-money-laundering controls and customer identity identification. The item frames the proposed oversight as bank-level regulation for selected issuers, with customer verification placed at the issuer level.
The report also states that Wyoming has issued FRNT, described as the first state-level stablecoin in the United States. FRNT uses Treasuries as reserves and is designed to support education funding. In the institutional segment, State Street and Fidelity have introduced a compliant stablecoin reserve money market fund in response to the GENIUS Act framework. Together, these items form the core of this RWA Weekly update.