GENIUS Act mandates full 1:1 reserve backing for issuers of digital-asset stablecoins
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The bill mandates 1:1 reserve backing, monthly audits, and anti-money laundering compliance while allowing banks, fintech firms, and retailers to issue stablecoins.
The GENIUS Act seeks to create a regulatory framework for dollar‑pegged payment stablecoins, mandating full 1:1 reserve backing, licenses at the federal or state level, Anti-Money Laundering compliance checks and sufficient consumer protections.
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