geniusactstablecoins

🏦 Federal Reserve Proposes Stablecoin Rules

🇺🇸 The Federal Reserve proposed two rules on September 24 to implement the GENIUS Act and establish requirements for payment stablecoin issuers.

💵 100% Reserve Backing
🔒 Fed-supervised issuers would need reserves fully covering their outstanding stablecoins.
🏛️ Eligible assets could include short-term U.S. Treasury bills and other high-quality liquid assets.
📊 New capital and risk-management standards would also apply.

🏦 Bank Issuance Framework
📝 The Fed would create a specific application process for supervised banks seeking to issue payment stablecoins, including business and financial requirements.

⏳ What’s Next?
🌐 Public comments will remain open for 60 days after Federal Register publication.
🚀 The proposals aim to provide clearer rules for stablecoin issuers and banks while strengthening reserve and risk controls.

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