The Federal Reserve has released proposals for public comment on regulating stablecoin issuers under the GENIUS Act. Comments will be accepted for 60 days following publication in the Federal Register.

Full Reserve Backing and Capital Requirements

The proposals require stablecoins to be fully backed by reserves and set capital requirements for issuers.

Process for Banks to Issue Stablecoins

The document outlines the procedure for banks to obtain approval to issue stablecoins.

The public comment period will begin after the document is published in the Federal Register and will last for 60 days.