#USStablecoinBill

The US Senate is deliberating the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act), aimed at establishing a federal regulatory framework for stablecoins. Key provisions include¹:

- *Definition and Backing Requirements*: Stablecoins must be backed 1:1 with US dollars or high-quality liquid assets like Treasury bills, with issuers segregating reserves from operational funds.

- *Regulatory Oversight*: Dual regulatory framework allowing state or federal registration, with federal oversight designated to the Comptroller of the Currency for issuers with over $10 billion market capitalization.

- *Bankruptcy Protections*: Stablecoin holders have priority over other claims in case of issuer bankruptcy.

- *Classification and SEC Jurisdiction*: Stablecoins are classified as non-securities under federal law, restricting SEC jurisdiction.