#StablecoinLaw

The "Genius Law" (GENIUS Act) is the first federal law in the United States to regulate cryptocurrencies, focusing on stablecoins. The law requires that issuers of these digital currencies, which are linked to assets like the dollar, have reserves and undergo audits to protect users.

The press has reacted in a divided manner. Its supporters, including the White House, see it as a step to make the U.S. a leader in digital assets, attracting investment and providing regulatory clarity. However, its critics argue that the law does not sufficiently protect consumers.