Fed proposes GENIUS Act rules for stablecoin reserves and bank issuers

The Federal Reserve proposed two sets of rules under the GENIUS Act concerning stablecoin issuers it supervises: one requiring full backing of payment stablecoins with high-quality liquid assets and capital/risk controls, and another governing how insured state member banks can apply to issue stablecoins through subsidiaries. The proposals open a 60-day public comment period and set regulatory guardrails for stablecoin operations linked to U.S. banks.

This Wire brief sits within Fusion42's coverage of Fintech, and 7 sources have reported it between 24 Sep 2026 and 26 Sep 2026.