Understanding the GENIUS Act and the U.S. Stablecoin Revolution 🧠

The GENIUS Act establishes the first full federal framework for stablecoins, requiring 1:1 backing, banning interest payments, and mandating audits and disclosures. It protects holders in issuer bankruptcies, allows regulators to freeze assets, and bans algorithmic stablecoins. Oversight is split between state and federal regulators, with restrictions for foreign issuers. Supporters say it boosts trust and U.S. leadership in digital finance, while critics warn it may favor large firms.