#StablecoinLaw

US Congress Passes Landmark Stablecoin Legislation: The GENIUS Act

The US House of Representatives has passed the GENIUS Act, a significant bill focused on stablecoins. The legislation now awaits the President's approval to become law.

🔹 Highlights of the New Framework:

For the first time, stablecoins are legally defined under US law.

The act introduces federal licensing requirements and strict reserve rules.

🔑 Key Provisions Include:

Stablecoins must be 100% backed by cash or US Treasury securities.

Federal approval is mandatory before issuance.

They may now be included in retirement plans such as 401(k)s.

The law mandates high transparency, with regular audits and disclosures.

This move is expected to reshape the landscape of DeFi, digital payments, and institutional crypto adoption.

However, it has also sparked debate around the centralization of digital assets.