@bertonkipling
The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins of 2025) establishes the first federal framework for stablecoins, limiting issuers to insured banks/credit unions with Fed approval. Key provisions: 1:1 reserves in USD/T-bills; mandatory AML/sanctions compliance under Bank Secrecy Act; mandatory approval process with transparency audits; prohibits officials from issuing stablecoins. Signed July 18, 2025, it boosts innovation while curbing risks.
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