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 Federal Reserve Board has requested public comment on two proposals aimed at establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act. As part of the implementation of the GENIUS Act framework, the Fed has proposed specific rules regarding reserves, capital, and application processes for these supervised stablecoin issuers. This initiative seeks to define the operational requirements and oversight mechanisms for entities issuing payment stablecoins under the supervision of the Federal Reserve Board.