Key Takeaways
BlockchainReporter states the Federal Reserve proposed two rules under the GENIUS Act to regulate payment stablecoin issuers and bank involvement.
According to BlockchainReporter, the Federal Reserve Board proposed two rules on September 24, 2026, to implement the GENIUS Act for payment stablecoin issuers. Reported by BlockchainReporter at 2:30 p.m. Eastern time, the framework requires issuers to fully back tokens with permissible reserve assets, such as short-term Treasury bills, and meet new capital and risk-management standards. The first proposal also introduces rules for firms safekeeping backing assets and clarifies activity permissibility for Board-supervised banks.
The second proposal establishes a tailored application process for Board-supervised banks seeking to issue payment stablecoins, requiring business plans, financial information, and outlining appeals and final determinations. BlockchainReporter notes that the comment period will close 60 days after publication in the Federal Register. The GENIUS Act sets the federal framework for payment stablecoin issuance, governing issuers and reserve custodians under Federal Reserve supervision. This rulemaking occurs alongside other U.S. legislative proposals like the CLARITY Act, while international regulators also tighten stablecoin oversight.
Source & Fact-Check Note
https://blockchainreporter.net/fed-proposes-genius-act-stablecoin-rules/
