BlockBeats news, September 25 — The Federal Reserve Board announced on September 24 that it is seeking public comment on two proposals to establish a regulatory framework for payment stablecoin issuers under its supervision pursuant to the GENIUS Act.The first proposal requires issuers to provide full reserves for stablecoins using permitted high-quality liquid assets such as short-term U.S. Treasury securities, and to establish standardized capital requirements and risk management standards for the credit and operational risks of stablecoin businesses. The proposal also seeks to set rules for Federal Reserve-supervised institutions that custody stablecoin reserve assets, and to clarify the permissible scope of stablecoin and related activities for supervised banks.The second proposal seeks to establish a dedicated application process for Federal Reserve-supervised banks applying to issue payment stablecoins. Applicants would be required to submit documents including a business plan and financial information, while also establishing procedures for application appeals, hearings, and final determinations. The public comment period will end 60 days after the proposals are published in the Federal Register.