#StablecoinLaw

President of the United States Donald Trump signed the law "On the Guidance and Establishment of National Innovations for U.S. Stablecoins" (#GENIUS ). This is the first federal regulatory act in the country's history aimed at the legalization and control of stablecoin issuance.

The document requires issuers to ensure full backing of their stablecoins by liquid assets, including the U.S. dollar. Major players with a capitalization of over $50 billion will have to undergo an annual audit. Requirements are also introduced for foreign issuers, including a ban on the activities of companies from sanctioned jurisdictions.