Donald Trump · Federal Reserve (FED) · U.S. Treasury · Decrypt
Federal Reserve Launches Stablecoin Rules on Reserves and Capital
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
The Federal Reserve is moving to set the ground rules for stablecoin issuers it oversees, proposing Thursday that they fully back their tokens with safe, liquid assets and hold capital against the risks of their operations.
Key facts
- The comment period closes 60 days after the proposals are published in the Federal Register
- The central bank opened two proposals for public comment as it builds out the regulatory framework required under the GENIUS Act, the stablecoin law President Donald Trump signed in July 2025
- The move adds the Fed's piece to a multi-agency rollout of the GENIUS Act, which set the first federal framework for dollar-pegged tokens
- The Federal Reserve is moving to set the ground rules for stablecoin issuers it oversees, proposing Thursday that they fully back their tokens with safe, liquid assets and hold capital
Summary
The Federal Reserve proposed rules requiring Board-supervised payment stablecoin issuers to fully back their tokens with permissible assets like short-term Treasury bills, plus standardized capital requirements, risk-management standards and rules for safekeeping reserves. A second proposal would create a tailored application process for Board-supervised banks seeking to issue stablecoins, with procedures for appeals and hearings; the comment period closes 60 days after Federal Register publication. The move adds the Fed's piece to a multi-agency GENIUS Act rollout, alongside the OCC's November push and Treasury's restrictions on noncompliant stablecoins. The central bank opened two proposals for public comment as it builds out the regulatory framework required under the GENIUS Act, the stablecoin law President Donald Trump signed in July 2025.