#GENIUSActPass

Key provisions at a glance

1‑for‑1 reserve backing in cash, Treasury bills, or overnight repos

Monthly public disclosures of reserve composition and auditor attestations

Federal oversight by the Federal Reserve with a path for state‑chartered issuers (via coordinated state banking supervision)

Explicit consumer‑redemption right at par value

New licencing category for non‑bank stablecoin issuers, plus clear rules for insured depository institutions