#StablecoinLaw

The United States has recently enacted its first major crypto legislation, specifically targeting stablecoins . This legislation, known as the GENIUS Act, passed the House of Representatives and was signed into law .

Here's a breakdown of what the GENIUS Act entails:

1. Regulation of Stablecoins:

- The new law introduces more formal regulations around stablecoins, which are often seen as a safer type of cryptocurrency .

- It mandates that stablecoins be backed by liquid assets such as U.S. dollars and short-term Treasury bills .

2. Issuer Requirements:

- The GENIUS Act prohibits the