GENIUS Act (stablecoin regulations)

The bill will establish a federal regulatory framework for payment stablecoins, allowing only issuers with specific qualifications such as banks, qualified non-banks, or state-regulated entities to issue stablecoins. It requires that at least 1:1 be fully backed by highly liquid assets (such as cash or U.S. Treasuries), undergo regular reserve audits and public disclosures, and be incorporated into anti-money laundering and consumer protection mechanisms.
At the same time, establish a parallel mechanism for federal and state regulation, and impose federal regulation after crossing a market value of 1 billion dollars. #美元稳定币