Payments Daily · Friday, September 25, 2026Daily
PAY.NEWS
Federal Reserve Seeks Comment 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 proposals 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; they would also establish a tailored application process for banks seeking to issue stablecoins.
Regulation & Compliance
Federal Reserve Seeks Comment 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 setting out procedures for appeals, hearings, and final decisions. The comment period will close 60 days after publication in the Federal Register.