The U.S. Federal Reserve has proposed regulations to implement the GENIUS Act, legislation enacted last year that established a framework for stablecoins. The proposal includes rules covering stablecoin yield programs, according to CoinDesk. The Fed’s action begins the regulatory process for putting the law into effect through detailed requirements. Stablecoin issuers, crypto-market participants and investors will be watching the proposal as the framework develops. The source report did not provide further details on the specific conditions, compliance requirements or timeline contained in the proposed rules. The announcement adds a significant U.S. regulatory development for the stablecoin sector, with the final shape of the rules still to be determined through the implementation process.
