Treasury Makes Concessions

Treasury incorporates several industry requests into the stablecoin rulemaking, especially around reserve-asset treatment, custody mechanics, transition timing, and state-licensed issuer recognition. This is the most likely path because the 2025 statute already mandates regulation, but agencies still have room to adjust technical implementation.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.