U.S. GENIUS Act Finalized—Stablecoin Regulations Tightened
The U.S. Congress passed the GENIUS Act, signed on July 18, mandating all stablecoins be backed 1:1 by U.S. dollars or low-risk assets. Dual federal and state oversight, new audit requirements, and transparency rules aim to protect users. This is the most comprehensive stablecoin legislation yet. Critics argue it gives big tech banking powers without adequate consumer safeguards.
Opinion: Regulatory clarity finally arrives—but consumer protection must stay central as financial innovation accelerates.
❓Will this restore confidence in stablecoins or enable over-centralization?