Federal Reserve Seeks Comment on GENIUS Act Stablecoin Rules
The proposals would establish a framework for regulated payment stablecoin issuers through full-reserve requirements and an approval process.
The Federal Reserve is seeking public comment on two proposed rules for payment stablecoin issuers under the GENIUS Act, outlining a federal framework for issuing regulated digital dollars.
The proposals would require payment stablecoins to be fully backed by reserve assets. They would also establish an approval process for issuers seeking to operate under the new framework.
The effort places reserve requirements and issuer approval at the center of the Federal Reserve’s proposed oversight of the stablecoin market. The proposals are intended to define how regulated payment stablecoins can be issued under the law.
The next step is the public comment process on the two proposals.
