Federal Reserve seeks comments on two regulatory proposals for banks issuing payment stablecoins under the GENIUS Act
The Federal Reserve is seeking public comment on two regulatory proposals for banks issuing payment stablecoins under the GENIUS Act. The first would require regulated issuers to fully back stablecoins with eligible reserve assets such as short-term Treasury bills, and establish standardized capital requirements, risk management standards, and custody rules; the second would establish a tailored application process for banks seeking to issue stablecoins, requiring the submission of a business plan and financial information, and set out procedures for appeals, hearings, and final decisions. The comment period will close 60 days after publication in the Federal Register.
推荐理由：The Federal Reserve’s proposed rules for implementing the GENIUS Act cover reserve assets, capital, and risk management, giving readers a basis for assessing the compliance threshold for banks issuing stablecoins.