U.S. Federal Reserve moves on proposals to implement GENIUS Act for stablecoins
The Fed proposed rules on putting last year’s GENIUS Act into place with regulations, including those governing stablecoin yield programs.
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Summary
- The U.S. Federal Reserve has made two wide-ranging proposals to implement the bulk of its requirements under the GENIUS Act, joining other federal agencies that are still in the middle of the process to finish stablecoin regulations.
- One piece of the Fed proposals governs controversial stablecoin rewards, and the central bank said it sought to closely match the policies already suggested by the Office of the Comptroller of the Currency.
