What Is the GENIUS Act
Key Provisions & Requirements Here are the main regulatory, licensing, reserve, and disclosure obligations under the GENIUS Act: Area What the Law Requires / Establishes Issuer qualification Only “permitted payment stablecoin issuers” may issue payment stablecoins in the U.S. Includes subsidiaries of insured depository institutions (banks or credit unions), or federally licensed non-bank stablecoin issuers. Smaller issuers can also be regulated at the state level under certain conditions. Federal vs State oversight If a stablecoin issuer has ≤ $10 billion in total outstanding payment stablecoins, they may opt into a state regulatory framework that is “substantially similar” to the federal …

