The recently passed Stablecoin 'GENIUS Act' in the United States

sets the following requirements for stablecoin issuers:

1. Reserve Requirement: Issuers must hold reserve assets (such as US dollars, short-term government bonds, etc.) at a ratio of 1:1.

2. Disclosure and Audit: Monthly public disclosure of reserve composition, which must be reviewed by a certified public accounting firm, and the CEO and CFO must certify the accuracy of the disclosure to regulatory agencies.

3. Regulatory Framework: Stablecoin issuers can be supervised by federal or state regulatory agencies, and small issuers (with issuance below $10 billion) can choose state regulation.

4. Consumer Protection: Includes anti-money laundering (AML) rules, priority of payment (holders are prioritized for repayment in bankruptcy), etc.

5. Restriction Clause: Members of Congress or senior executive officials are prohibited from issuing payment stablecoins while in office.