On the 24th, the U.S. Federal Reserve Board (FRB) announced two proposed regulations for stablecoin issuers under its supervision, based on the Stablecoin Regulation Act, known as the GENIUS Act. These proposals outline requirements for reserve assets and capital, as well as issuance application procedures for bank subsidiaries. The public comment period will last 60 days from the date of publication in the Federal Register.
The GENIUS Act is set to take effect on July 18, 2025...