The GENIUS Act: A Framework for U.S. Stablecoin Issuance

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) is the first major crypto legislation in the United States. The GENIUS Act creates licensing and regulatory requirements for domestic payment stablecoin issuers and standards for participation in the U.S. payment stablecoin market by foreign stablecoin issuers. It also provides requirements for the custody and safekeeping of certain payment stablecoin-related assets. This article outlines key provisions of the GENIUS Act.