The GENIUS Act, signed into law by President Donald Trump in July 2025, bars stablecoin issuers from paying interest directly to holders and takes effect in January.

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Laws and rules for fiat-pegged tokens, from the US GENIUS Act to Europe's MiCA, covering reserves, licensing and yield restrictions.