{"abstract":"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, which is applicable generally to all PPSIs.","action":"Notice of proposed rulemaking.","agencies":[{"raw_name":"FEDERAL RESERVE SYSTEM","name":"Federal Reserve System","id":188,"url":"https://www.federalregister.gov/agencies/federal-reserve-system","json_url":"https://www.federalregister.gov/api/v1/agencies/188","parent_id":null,"slug":"federal-reserve-system"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2026/09/29/2026-19860.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"208","title":12},{"chapter":null,"citation_url":null,"part":"211","title":12},{"chapter":null,"citation_url":null,"part":"217","title":12},{"chapter":null,"citation_url":null,"part":"225","title":12},{"chapter":null,"citation_url":null,"part":"247","title":12},{"chapter":null,"citation_url":null,"part":"263","title":12}],"citation":"91 FR 61580","comment_url":null,"comments_close_on":"2026-11-30","correction_of":null,"corrections":[],"dates":"Comments must be received by November 30, 2026.","disposition_notes":null,"docket_ids":["Docket No. R-1899"],"dockets":[],"document_number":"2026-19860","effective_on":null,"end_page":61683,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2026/09/29/2026-19860.xml","html_url":"https://www.federalregister.gov/documents/2026/09/29/2026-19860/implementing-the-federal-reserve-boards-responsibilities-under-the-genius-act","images":{"EP29SE26.004":{"large":"https://img.federalregister.gov/EP29SE26.004/EP29SE26.004_large.png","medium":"https://img.federalregister.gov/EP29SE26.004/EP29SE26.004_medium.png","original_size":"https://img.federalregister.gov/EP29SE26.004/EP29SE26.004_original_size.png"},"EP29SE26.005":{"large":"https://img.federalregister.gov/EP29SE26.005/EP29SE26.005_large.png","medium":"https://img.federalregister.gov/EP29SE26.005/EP29SE26.005_medium.png","original_size":"https://img.federalregister.gov/EP29SE26.005/EP29SE26.005_original_size.png"},"EP29SE26.002":{"large":"https://img.federalregister.gov/EP29SE26.002/EP29SE26.002_large.png","medium":"https://img.federalregister.gov/EP29SE26.002/EP29SE26.002_medium.png","original_size":"https://img.federalregister.gov/EP29SE26.002/EP29SE26.002_original_size.png"},"EP29SE26.003":{"large":"https://img.federalregister.gov/EP29SE26.003/EP29SE26.003_large.png","medium":"https://img.federalregister.gov/EP29SE26.003/EP29SE26.003_medium.png","original_size":"https://img.federalregister.gov/EP29SE26.003/EP29SE26.003_original_size.png"},"EP29SE26.001":{"large":"https://img.federalregister.gov/EP29SE26.001/EP29SE26.001_large.png","medium":"https://img.federalregister.gov/EP29SE26.001/EP29SE26.001_medium.png","original_size":"https://img.federalregister.gov/EP29SE26.001/EP29SE26.001_original_size.png"}},"images_metadata":{"EP29SE26.004":{"large":{"identifier":"EP29SE26.004","content_type":"image/png","size":5577,"width":820,"sha":"0f54b2a3b1cec7996a3582df66ceefbe","url":"https://img.federalregister.gov/EP29SE26.004/EP29SE26.004_large.png","height":64},"medium":{"identifier":"EP29SE26.004","content_type":"image/png","size":2662,"width":436,"sha":"93221d145745c68f5c638283008774cc","url":"https://img.federalregister.gov/EP29SE26.004/EP29SE26.004_medium.png","height":34},"original_size":{"identifier":"EP29SE26.004","content_type":"image/png","size":4465,"width":1666,"sha":"f8b58581cf408a4b404283a034e23395","url":"https://img.federalregister.gov/EP29SE26.004/EP29SE26.004_original_size.png","height":130}},"EP29SE26.005":{"large":{"identifier":"EP29SE26.005","content_type":"image/png","size":5554,"width":823,"sha":"266bac5ace344fac403f2ba89edb3a4b","url":"https://img.federalregister.gov/EP29SE26.005/EP29SE26.005_large.png","height":72},"medium":{"identifier":"EP29SE26.005","content_type":"image/png","size":2340,"width":409,"sha":"8edbfc9a8292303ab38369b35d5036dc","url":"https://img.federalregister.gov/EP29SE26.005/EP29SE26.005_medium.png","height":36},"original_size":{"identifier":"EP29SE26.005","content_type":"image/png","size":4042,"width":1544,"sha":"7110b2f5afcbb1ba276c4756ff5b1270","url":"https://img.federalregister.gov/EP29SE26.005/EP29SE26.005_original_size.png","height":136}},"EP29SE26.002":{"large":{"identifier":"EP29SE26.002","content_type":"image/png","size":5976,"width":823,"sha":"1aba67fcee29b67e4807fbad4c049400","url":"https://img.federalregister.gov/EP29SE26.002/EP29SE26.002_large.png","height":118},"medium":{"identifier":"EP29SE26.002","content_type":"image/png","size":2510,"width":412,"sha":"6c999e4866c1c78470d74850c4477d98","url":"https://img.federalregister.gov/EP29SE26.002/EP29SE26.002_medium.png","height":59},"original_size":{"identifier":"EP29SE26.002","content_type":"image/png","size":3704,"width":1553,"sha":"27308089d0638b132e040596dbaf1a9a","url":"https://img.federalregister.gov/EP29SE26.002/EP29SE26.002_original_size.png","height":223}},"EP29SE26.003":{"large":{"identifier":"EP29SE26.003","content_type":"image/png","size":5088,"width":771,"sha":"ea8e8ac9dd7b1a5c77b233687ef87116","url":"https://img.federalregister.gov/EP29SE26.003/EP29SE26.003_large.png","height":84},"medium":{"identifier":"EP29SE26.003","content_type":"image/png","size":1969,"width":367,"sha":"4ce2b19d12dc8ec7c63afc584e4704b9","url":"https://img.federalregister.gov/EP29SE26.003/EP29SE26.003_medium.png","height":40},"original_size":{"identifier":"EP29SE26.003","content_type":"image/png","size":3117,"width":1396,"sha":"1d74c3927e5f79317a2f48f0966c9f33","url":"https://img.federalregister.gov/EP29SE26.003/EP29SE26.003_original_size.png","height":152}},"EP29SE26.001":{"large":{"identifier":"EP29SE26.001","content_type":"image/png","size":5588,"width":823,"sha":"aa2e3368439fc74b684b35b2eceffee4","url":"https://img.federalregister.gov/EP29SE26.001/EP29SE26.001_large.png","height":72},"medium":{"identifier":"EP29SE26.001","content_type":"image/png","size":2351,"width":409,"sha":"eda796eefc3fd7c02381907d27f7c9b8","url":"https://img.federalregister.gov/EP29SE26.001/EP29SE26.001_medium.png","height":36},"original_size":{"identifier":"EP29SE26.001","content_type":"image/png","size":4030,"width":1544,"sha":"6329b64d85862fb71e0b779ea89303cc","url":"https://img.federalregister.gov/EP29SE26.001/EP29SE26.001_original_size.png","height":136}}},"json_url":"https://www.federalregister.gov/api/v1/documents/2026-19860?publication_date=2026-09-29","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2026-09-29/2026-19860/mods.xml","not_received_for_publication":null,"page_length":104,"page_views":{"count":2031,"last_updated":"2026-10-15 08:15:06 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-09-29/pdf/2026-19860.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-19860.pdf?1790599514","publication_date":"2026-09-29","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2026/09/29/2026-19860.txt","regulation_id_number_info":{"7100-AH29":null},"regulation_id_numbers":["7100-AH29"],"regulations_dot_gov_info":{"comments_count":0,"agency_id":"FRS","document_id":"FRS-2026-4226-0001","checked_regulationsdotgov_at":"2026-09-30T15:55:03Z"},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":61580,"subtype":null,"title":"Implementing the Federal Reserve Board's Responsibilities Under the GENIUS Act","toc_doc":"Implementing the Federal Reserve Board's Responsibilities under the GENIUS Act","toc_subject":null,"topics":["Administrative practice and procedure","Banks, banking","Exports","Foreign banking","Holding companies","Investigations","Investments","Reporting and recordkeeping requirements","Securities"],"type":"Proposed Rule","volume":91}