Policy
Fed Proposes the First GENIUS Act Rules for Bank-Issued Payment Stablecoins
Two proposals would require full reserve backing in high-quality liquid assets and create an application pathway for Board-supervised banks. Comments are due 60 days after publication.
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By Marcus Elrod
Sep 25, 2026 · 10 min read
The Federal Reserve Board voted Thursday to request public comment on two proposals that would establish its framework for payment stablecoins issued by the banks it supervises — the Fed's first substantive move to implement the GENIUS Act. The announcement was released at 2:30 p.m. Eastern on Sept. 24.
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Marcus Elrod
Marcus tracks positioning, flows and rates. He writes CI's weekly market internals column.
Marcus Elrod writes for Corporate Insider Inc.