Daily Compliance Brief — Federal Reserve Proposes Stablecoin Framework for Board-Supervised Issuers

September 24, 2026

Signal

The Federal Reserve Board requested public comment on September 24, 2026 on two proposals establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act. According to the Federal Reserve Board press release, the proposals address reserve assets, capital requirements, risk management standards, and application procedures for bank-issued stablecoins.

The first proposal also covers firms that safeguard assets backing payment stablecoins and clarifies the permissibility of stablecoin-related activities for Board-supervised banks. The comment period will close 60 days after publication in the Federal Register.

Why it matters

Banks and stablecoin issuers should assess how the proposed framework could affect governance, reserve controls, capital planning, and operational risk management for stablecoin activities.

Control environments may require clearer allocation of responsibilities between issuers, banks, and asset custodians, particularly where stablecoin activities introduce new operational or financial crime exposure.