#Federal Reserve Stablecoin Rules
The Federal Reserve has issued two proposed rules to implement the GENIUS Act and is seeking public comment. One would require issuers to support fully backed reserves using short-term U.S. Treasury securities and other high-quality liquid assets. The other would require banks supervised by the Federal Reserve to establish an approval process to issue payment stablecoins. The comment period is expected to end 60 days after the proposals are published in the Federal Register.
The most directly affected are banks that want to mint stablecoins under a Federal Reserve license, and stablecoin projects that use the reserve structure to tell their story. The rules are still only proposed drafts, and the two areas to watch most closely going forward are the reserve and custody definitions.
$GENIUS
$ZEC $NEAR
The Federal Reserve has issued two proposed rules to implement the GENIUS Act and is seeking public comment. One would require issuers to support fully backed reserves using short-term U.S. Treasury securities and other high-quality liquid assets. The other would require banks supervised by the Federal Reserve to establish an approval process to issue payment stablecoins. The comment period is expected to end 60 days after the proposals are published in the Federal Register.
The most directly affected are banks that want to mint stablecoins under a Federal Reserve license, and stablecoin projects that use the reserve structure to tell their story. The rules are still only proposed drafts, and the two areas to watch most closely going forward are the reserve and custody definitions.
$GENIUS
$ZEC $NEAR