Frontier AdoptionEvidence-graded tracking of what's actually live

Regulation · Instrument · United States · Proposed rule · Board of Governors of the Federal Reserve System

Federal Reserve Board proposals on a GENIUS Act framework for Board-supervised payment stablecoin issuers

Two Fed proposals. The first would require Board-supervised issuers to back stablecoins fully with permitted reserve assets such as short-term Treasury bills, set standard capital and risk-management requirements, add rules for firms safekeeping reserve assets, and confirm that stablecoin activities are permissible for Board-supervised banks. The second sets an application process for Board-supervised banks that want to issue payment stablecoins.

Consultation open · part of GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)

Timeline

  1. 24 Sep 2026 · Proposed
    Board requests comment on both proposals; comments due 60 days after Federal Register publication.[1]
  2. 29 Sep 2026 · Consultation
    Both proposals published in the Federal Register (Dockets R-1899 and R-1900).[2]
  3. 30 Nov 2026 · Consultation · upcoming
    Comments close on both proposals.[2]

Deployments operating under it

None recorded with a source yet.

Sources

  1. [1]Federal Reserve Board requests public comment on two proposals related to establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act — Federal Reserve Board, 24 Sep 2026. Accessed 12 Oct 2026.A
  2. [2]Implementing the Federal Reserve Board's Responsibilities Under the GENIUS Act (FR Doc. 2026-19860, proposed rule) — Federal Register (Office of the Federal Register), 29 Sep 2026. Accessed 13 Oct 2026.A
  3. [3]Application Procedures for Board-Supervised Insured Depository Institutions Seeking Approval for a Subsidiary To Issue Payment Stablecoins (FR Doc. 2026-19899, proposed rule) — Federal Register (Office of the Federal Register), 29 Sep 2026. Accessed 13 Oct 2026.A