Fed proposes reserve and capital rules for bank-issued stablecoins

The Federal Reserve has proposed rules for stablecoins issued through the banks it supervises, carrying out part of the 2025 GENIUS Act. Issuers would have to back each coin fully with approved reserve assets, such as short-term Treasury bills, and meet standardized capital and risk-management requirements. A second proposal sets out how a bank applies to have a subsidiary issue stablecoins. Both were published in the Federal Register on Sept. 29, opening a 60-day comment period that runs to Nov. 28. The law takes effect Jan. 18, 2027, or 120 days after final rules, whichever is sooner.

The wall: Nov 28 computed (Saturday); memos and full proposals unread

Tier: Confirmed (release read in full; effective-date rule via trade coverage)

Sources

• federalreserve.gov/newsevents/pressreleases/bcreg20260924a.htm
• securities.io/federal-reserve-seeks-comment-on-two-genius-act-stablecoin-proposals/

Related coverage

• A Fed governor's warning rides along with the new stablecoin rules Oct 1

economy, business and finance federal

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