The Federal Reserve has opened two proposals for public comment under the GENIUS Act, outlining requirements for stablecoin issuers under its supervision. The framework would require those issuers to fully back their tokens with safe assets. A separate proposal would establish an application process for banks seeking approval to issue stablecoins. The measures represent the central bank’s proposed approach to reserve backing and bank participation in stablecoin issuance. The proposals are now subject to comment, with no final rules or implementation details provided in the source material. The announcement is relevant to the digital-asset market because it addresses the assets supporting supervised stablecoins and the regulatory path for banks entering the sector.
