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ARTICLE · 26 JUNE 2025

Federal Stablecoin Legislation Poised To Implement Comprehensive Regulatory Framework For Payment Stablecoins

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (the "GENIUS Act"), which would comprehensively regulate stablecoins in the United States...

United StatesTechnology
  • How does the GENIUS Act define a “payment stablecoin”?
  • Who would be permitted to issue or offer and sell a payment stablecoin in the United States?
  • Would other sales of payment stablecoins be permitted?
  • Would the GENIUS Act apply outside the United States?
  • Can payment stablecoins pay interest?
  • How would insured depository institutions be permitted to issue stablecoins?
  • How are stablecoins issued by a foreign payment stablecoin issuer treated?
  • What requirements would the GENIUS Act establish for issuing payment stablecoins?
  • How would the GENIUS Act allocate responsibility between federal and state regulators?
  • Would the GENIUS Act preempt state money transmission or consumer protection laws?

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