#USStablecoinBill

Key Regulatory Points in GENIUS

Defining the "Payment Stablecoin" category for cryptocurrencies backed 1:1 by liquid assets or short-term Treasury bonds and designated for payments.

Granting permits only to banks and financial institutions (licensed) to issue currencies, under the supervision of the OCC or the Federal Reserve.

Mandatory full reserve of assets, including cash or bonds, subject to independent audits and transparent oversight.

Incorporating stablecoin issuers under the "Bank Secrecy Act" to mitigate money laundering and terrorism financing and implementing the "Travel Rule".