Anchorage Digital Enables GENIUS Act–Compliant Rewards for Ethena’s Stablecoins
- Anchorage Digital is developing a framework to distribute rewards on Ethena’s tokens, adhering to the GENIUS Act.
- The GENIUS Act prohibits interest payments on stablecoins but allows yield-like rewards.
- Ethena Labs operates USDe, a synthetic stablecoin designed for stability through various backing mechanisms.
- USDtb, developed with Anchorage Digital, is the first stablecoin compliant with the GENIUS Act in the US.
- USDtb is established as a federally regulated digital asset, enabling reward distribution while complying with federal regulations.
Anchorage Digital, a federally chartered crypto custodian, has announced its development of a GENIUS Act-compliant framework to support reward mechanisms for Ethena’s tokens. This initiative ensures compliance with federal regulations prohibiting interest payments on stablecoins while allowing yield-like rewards.
Source (3.2)https://cryptobriefing.com/anchorage-genius-act-ethena-rewards/?rand=59535
