GENIUS Act establishes a federal framework requiring stablecoins to be fully backed by U.S. dollar reserves in a 1:1 ratio, mandates audits, and licensing for payment stablecoins

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The GENIUS Act tightly regulates payment stablecoins, requiring 1:1 dollar-backed reserves, monthly disclosures, audits, and clear federal or state licensing.
The bill requires stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandates annual audits for issuers with a market capitalization of more than $50 billion, and establishes guidelines for foreign issuance.