The GENIUS Act regulates payment stablecoins, establishing a framework for their issuance, supervision, and enforcement.
The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, provides a regulatory framework for payment stablecoins. It defines "payment stablecoin" as a digital asset used as a means of payment or settlement. The Act mandates that only permitted payment stablecoin issuers, which include subsidiaries of insured depository institutions, Federal qualified payment stablecoin issuers, and State qualified payment stablecoin issuers, can issue payment stablecoins.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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