Fed seeks feedback on 2 stablecoin rule proposals under GENIUS Act

The U.S. Federal Reserve Board is seeking public feedback on two proposed rules tied to a regulatory framework for issuers of regulated payment stablecoins under the GENIUS Act, Unfolded reported. The Fed plans to establish rules for bank-issued payment stablecoins, under which each $1 token would have to be backed by at least $1 in approved reserves, while customer redemptions would generally need to be completed within two business days.