#USStablecoinBill

USStablecoinBill

The U.S. Congress is deliberating the GENIUS Act, a bipartisan bill aiming to establish a federal regulatory framework for stablecoins—digital assets pegged to traditional currencies like the U.S. dollar. The Act proposes licensing requirements for issuers, mandates full reserve backing, and enforces anti-money laundering and consumer protection standards. It introduces a dual regulatory approach, allowing state oversight for issuers with assets under $10 billion, while larger entities would fall under federal supervision. Despite initial bipartisan support, recent concerns over national security provisions and potential conflicts of interest have led some Democrats to withdraw backing, casting uncertainty over the bill's future. (Politico)