Federal Reserve Board requests public comment on two proposals related to establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act
The proposals cover reserves, capital and risk management for supervised issuers, plus an application route for banks seeking to issue payment stablecoins.
TL;DR
- The Federal Reserve requested public comment on two proposals implementing its responsibilities under the GENIUS Act.
- One proposal covers reserve assets, capital, risk management and custody; the other sets an application process for supervised banks.
- The comment period closes 60 days after Federal Register publication, so the proposals are not final rules.
The Federal Reserve's September 24 announcement outlines two proposals for payment-stablecoin issuers under its supervision. The first would set reserve, capital, risk-management and custody requirements; the second would establish application procedures for supervised banks seeking to issue stablecoins. [1] [2]
CoinDesk reports that the proposal is part of implementing the GENIUS Act and also addresses rules for stablecoin-related activities. The Board says the comment period will close 60 days after Federal Register publication; the proposals remain subject to that process. [1] [2]
Why it matters
The rules would define how bank-supervised issuers hold reserves and qualify to enter the payment-stablecoin market, making the consultation relevant to financial institutions and payment infrastructure.
Editor's note
Headline is verbatim from the Federal Reserve release. The proposals are described as proposed rules; this is not investment or legal advice.