#GENIUSActPass In summary, the GENIUS Law aims to:

Establish a federal regulatory framework for stablecoins:

This involves defining what stablecoins are, how they are issued, how they are backed, and how they should operate in the market.

Improve transparency and security:

The law seeks to ensure that stablecoin issuers are transparent about their reserves and processes, and that consumers can trust in the stability of these currencies.

Protect consumers:

The law includes provisions to protect users of stablecoins from fraud, manipulation, and other practices.