Proposals For Comment
Implementing the Federal Reserve Board’s Responsibilities under the GENIUS Act [R-1899]
Rulemaking Proposal
The Board of Governors of the Federal Reserve System (Board) proposes to issue regulations to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) with respect to Board-supervised permitted payment stablecoin issuers (PPSIs) and certain other entities that are subject to the Board’s jurisdiction. In addition, the Board proposes to issue regulations to implement the prohibition on tying in section 4(a)(8) of the GENIUS Act (12 U.S.C. 5903(a)(8)), which is applicable generally to all PPSIs.
Comments Due: 60 days after publication in the Federal Register