According to CoinMeta, the Federal Reserve Board of the United States has issued a notice to solicit public comments on two proposals regarding regulated payment stablecoin issuers under the Genius legislation. The first proposal requires issuers to collateralize stablecoins with reserve assets and establishes capital requirements and risk management standards. The second proposal outlines the administrative process for banks to apply for issuing payment stablecoins, including the submission of business plans, appeal procedures, and hearings. Stakeholders have 60 days from the publication of the announcement to provide feedback. (Source: Federal Reserve Board of the United States)