MAKING AMERICA THE LEADER IN DIGITAL ASSETS
President Donald J. Trump signed the GENIUS Act into law, a historic piece of legislation that will pave the way for the United States to lead the global digital currency revolution.
The GENIUS Act prioritizes consumer protection, strengthens the U.S. dollar’s reserve currency status, and bolsters our national security.
The GENIUS Act will make America the undisputed leader in digital assets, bringing massive investment and innovation to our country.
PROTECTING CONSUMERS IN THE DIGITAL MARKET:
President Trump supports the GENIUS Act because it protects consumers from nefarious actors in financial markets.
This long-overdue legislation creates the first-ever Federal regulatory system for stablecoins, ensuring their stability and trust through strong reserve requirements.
The GENIUS Act requires 100% reserve backing with liquid assets like U.S. dollars or short-term Treasuries and requires issuers to make monthly, public disclosures of the composition of reserves.
Stablecoin issuers must comply with strict marketing rules to protect consumers from deceptive practices. Crucially, they are forbidden from making misleading claims that their stablecoins are backed by the U.S. government, federally insured, or legal tender.
The GENIUS Act aligns State and Federal stablecoin frameworks, ensuring fair and consistent regulation throughout the country.
In the event of insolvency of a stablecoin issuer, the GENIUS Act prioritizes stablecoin holders’ claims over all other creditors, ensuring a final backstop of consumer protection.
