Fed Seeks Public Input on Stablecoin Rules Under GENIUS Act
The Federal Reserve Board has opened a public comment period on two proposals to regulate payment stablecoin issuers it supervises under the GENIUS Act.
The Federal Reserve Board is soliciting public feedback on a pair of proposals aimed at building a regulatory framework for payment stablecoin issuers that fall under its supervisory authority, as mandated by the GENIUS Act.
The two proposals represent the Fed's initial steps toward formalizing oversight of a digital-asset class that has grown rapidly in use for payments and financial settlements. Stablecoins, which are typically pegged to the U.S. dollar or other assets, have drawn increased legislative attention as lawmakers and regulators seek to bring them within established financial guardrails.
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The GENIUS Act — which stands for Guiding and Establishing National Innovation for U.S. Stablecoins — provides the statutory basis for the Fed's rulemaking effort. The Board's move to request comment signals an early but concrete phase in translating that legislation into enforceable supervisory standards for institutions it oversees.
The public comment process is a standard procedural step in federal rulemaking, allowing banks, fintech firms, consumer advocates, and other stakeholders to weigh in before rules are finalized. The Fed's dual proposals suggest the framework will address multiple dimensions of stablecoin issuance, though the specific scope of each proposal was not detailed in the release.
Continue reading at FRB: Press Release - All Releases.
