The GENIUS Act requires all USD stablecoins to have a 1:1 full reserve, with assets limited to cash or short-term U.S. Treasury bonds. Reserve audit results must be disclosed monthly, and user funds are prohibited from being misappropriated or re-staked. Once the market capitalization exceeds $10 billion, it must enter the federal regulatory system. Stablecoins have been treated as 'formal financial instruments'.

Personally, I feel this is a struggle for monetary dominance. The United States does not want stablecoins to run out of control, nor does it want to be outpaced by other CBDCs. Therefore, it chooses to set the rules directly, first incorporating stablecoins, and then pushing them globally.