The Federal Reserve proposed rules requiring supervised stablecoin issuers to fully back their tokens with permissible assets such as short-term Treasury bills, along with standardized capital requirements and risk-management standards. A second proposal would establish a tailored application process for banks seeking to issue stablecoins, with appeal and hearing procedures. The comment period closes 60 days after publication in the Federal Register. These measures are part of the GENIUS Act, the stablecoin law signed by President Donald Trump in July 2025, which establishes the first federal framework for dollar-pegged tokens.
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