#USStablecoinBill formally known as the GENIUS Act, aims to establish a federal regulatory framework for stablecoins in the U.S. . It mandates that issuers fully back their stablecoins with U.S. dollars or high-quality liquid assets and prohibits algorithmic stablecoins . The bill introduces a dual regulatory approach, allowing smaller issuers under $10 billion to operate under state regulation if standards align with federal requirements . Despite initial bipartisan support, recent controversies, including concerns over money laundering provisions and political affiliations, have led some Democrats to withdraw their backing, casting uncertainty over the bill's future .