Fed Seeks Public Input on Stablecoin Rules Under GENIUS Act
The Federal Reserve Board is requesting public comment on two proposals to establish a regulatory framework for payment stablecoin issuers it supervises under the GENIUS Act.
The Federal Reserve Board has opened a public comment period on two separate proposals aimed at building a regulatory structure for payment stablecoin issuers that fall under its supervisory authority, as directed by the GENIUS Act.
The move marks a significant step toward formalizing federal oversight of payment stablecoins — digital assets designed to maintain a stable value and increasingly used in financial transactions. The GENIUS Act provides the legislative foundation for the Fed's proposed framework, directing the central bank to establish rules governing Board-supervised issuers.
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By soliciting public input, the Fed is following standard rulemaking procedure, allowing banks, fintech firms, consumer groups, and other stakeholders to weigh in before any final regulations take effect. The dual-proposal structure suggests the central bank is addressing both operational standards and broader supervisory requirements for stablecoin issuers.
The proposals reflect growing regulatory urgency around stablecoins, which have expanded rapidly in use but have operated largely without a comprehensive federal framework. Policymakers have signaled that clearer rules are needed to protect consumers and ensure financial stability as digital payment instruments become more mainstream.
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