On September 24, the U.S. Federal Reserve proposed two sets of rules establishing how payment stablecoin issuers and banks under its supervision would operate under the GENIUS Act. Fed-supervised payment stablecoin issuers would have to fully back the stablecoins they issue with permitted reserve assets, including short-term U.S. Treasury bills. The proposals also introduce standardized capital requirements and risk management standards for supervised stablecoin issuers, while banks seeking to issue their own payment stablecoins would follow a tailored application procedure. The public comment period spans 60 days after publication in the Federal Register, with full enforcement planned for January 18, 2027.
Source: Read the original article
