#GENIUS稳定币法案

The recent **Stablecoin Payment Transparency Act** promoted by the United States aims to establish the first national regulatory framework for stablecoins. The core elements include:

1. **Issuance Access**: Requiring stablecoin issuers to hold a bank license or state-level permission, ensuring reserve assets are fully backed 1:1;

2. **Ban on Algorithmic Stablecoins**: Clearly prohibiting algorithmic models that lack substantial asset backing;

3. **Dual-State Federal Supervision**: Allowing state governments to approve issuing institutions while the federal government retains intervention rights;

4. **User Protection**: Mandatory disclosure of reserve composition and acceptance of regular audits.

This bill attempts to balance innovation with risk control; if passed, it will accelerate the mainstreaming of compliant stablecoins (such as USDC, PayPal USD) while potentially eliminating non-compliant projects. **#GENIUS** If referring to a specific project, it must demonstrate compliance with the above reserve transparency and licensing requirements.