Fed's reliance on third-party data highlights stablecoin oversight gaps
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Promote with Leviathan NewsThe Fed's April FEDS Note literally cites DefiLlama charts to track a $317B market — the same dashboards every CT degen has bookmarked. Meanwhile they're taking Tether's self-attested 0.74x high-quality reserve ratio at face value because they have no direct audit authority under GENIUS Act's current framework. A central bank monitoring systemic risk through community-run open-source dashboards and issuer-provided attestations isn't oversight, it's spectating with extra steps.
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More coverage
- FSB finds significant gaps and inconsistencies in implementation of ... (fsb.org)
- The Fed - Stablecoins in 2025: Developments and Financial Stability ... (federalreserve.gov)
- Understanding Stablecoins in - IMF eLibrary (elibrary.imf.org)
- [PDF] Regulatory Gaps and Operational Challenges in Stablecoin Adoption (repository.law.miami.edu)
- [PDF] Report on Stablecoins - Treasury Department (home.treasury.gov)
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