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meta_id 3524016

pc nid 95354 Sep 24, 2026 pdonofrio@vixio.com US Track 2 Federal Reserve Board horizon scanning
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Federal Reserve Board Requests Public Comment on Payment Stablecoin Regulatory Framework under GENIUS Act

On September 24, 2026, the Federal Reserve Board (FRB) requested public comment on two proposals establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act. The first proposal requires Board-supervised payment stablecoin issuers to fully back their stablecoins with permissible reserve assets, including short-term Treasury bills and other high-quality, liquid assets. The proposal establishes standardized capital requirements addressing credit and operational risks associated with payment stablecoin activities, alongside risk management standards. It introduces rules for Board-supervised firms that safekeep assets backing payment stablecoins and clarifies the permissibility of stablecoin and related activities for Board-supervised banks. The second proposal establishes a tailored application process for Board-supervised banks seeking to issue payment stablecoins. Applicants must submit a business plan, financial information, and other required documents. The proposal creates a process governing appeals, hearings, and final determinations for applications. These proposals aim to provide a comprehensive regulatory framework ensuring that payment stablecoin activities conducted by Board-supervised institutions operate safely and soundly, with appropriate safeguards for reserve assets and capital protections. The comment period closes 60 days after publication in the Federal Register. Interested parties should submit comments through the Federal Register notice. The FRB released accompanying Board memoranda and Federal Register notices detailing the specific requirements and procedures. A statement from Governor Barr is also available. REFERENCES: Federal Reserve Board Press Release, September 24, 2026: https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20260924a.pdf Federal Register Notice: Application Procedures for Board-Supervised Insured Depository Institutions Seeking Approval for a Subsidiary to Issue Payment Stablecoins Federal Register Notice: Implementing the Federal Reserve Board's Responsibilities under the GENIUS Act

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Federal Reserve Board Requests Comment on Payment Stablecoin Regulatory Framework Under GENIUS Act

On September 24, 2026, the Federal Reserve Board (FRB) requested public comment on two proposals to establish a regulatory framework for Board-supervised payment stablecoin issuers under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The first proposal establishes reserve asset and capital requirements for Board-supervised payment stablecoin issuers. It would require issuers to fully back their stablecoins with permissible reserve assets, including short-term Treasury bills and other high-quality, liquid assets. The proposal also establishes standardized capital requirements to address credit and operational risks associated with payment stablecoin activities, along with risk management standards. Additionally, the proposal introduces rules for Board-supervised firms that safekeep assets backing payment stablecoins and clarifies the permissibility of stablecoin and related activities for Board-supervised banks. The second proposal establishes a tailored application process for Board-supervised banks seeking to issue payment stablecoins. Applicants would be required to submit a business plan, financial information, and other supporting documentation. The proposal also creates procedures governing appeals, hearings, and final determinations for applications. These proposals apply to Board-supervised insured depository institutions and their subsidiaries seeking to engage in payment stablecoin issuance activities. The regulatory framework aims to support responsible innovation in digital assets while maintaining prudential safeguards and financial stability. The comment period closes 60 days after publication in the Federal Register. Interested parties may submit comments via the Federal Register website.
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  1. fetch https://www.federalreserve.gov/newsevents/pressreleases/bcreg20260924a.htm http · 3250 chars · 40 links
  2. search "Federal Reserve Board stablecoin regulatory framework GENIUS Act" → nids 91769, 93071, 93334, 92756, 92637
  3. search "Federal Reserve Board payment stablecoin consultation proposal" → nids 92679, 92756, 94099, 93841, 94350
  4. fetch https://www.federalreserve.gov/newsevents/pressreleases/bcreg20260924a.htm http · 3250 chars · 40 links
  5. fetch https://www.federalreserve.gov/newsevents/pressreleases/barr20260924a.htm refused (not a fetched link)
  6. fetch https://www.federalreserve.gov/newsevents/pressreleases/bcreg20260924a1.pdf refused (not a fetched link)

Published

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US Federal Reserve Board Requests Public Comment on GENIUS Act Proposals for Supervision of Stablecoin Issuers

On September 24, 2026, the US Federal Reserve Board (FRB) requested public comment on two proposals establishing a regulatory framework for FRB-supervised permitted payment stablecoin issuers (PPSIs) under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act . The first proposal would require FRB-supervised payment stablecoin issuers to fully back their stablecoins with permissible reserve assets, including short-term Treasury bills and other high-quality, liquid assets. This proposal would also establish standardized capital requirements addressing credit and operational risks associated with payment stablecoin activities, alongside risk management standards. It would additionally create rules for FRB-supervised firms that safeguard assets backing payment stablecoins, as well as clarifying the permissibility of stablecoin and related activities for FRB-supervised banks. The second proposal would create a tailored application process for FRB-supervised banks seeking to issue payment stablecoins. Applicants would be mandated to submit a business plan, financial statements and other specified documentation. This proposal would also establish a process governing appeals, hearings and final determinations for applications. According to a FRB news release, the two proposals aim to provide a comprehensive regulatory framework ensuring that payment stablecoin activities conducted by PPSIs and other FRB-supervised institutions operate safely and soundly, with appropriate safeguards in place for reserve assets and capital protections. Interested parties may submit comments up to 60 days after the proposals' publications in the Federal Register at this link .