The GENIUS Act establishes the first federal framework in the United States for the issuance and regulation of payment stablecoins. It creates permitted payment stablecoin issuers, requires reserve backing, governs redemption practices and mandates supervisory compliance across both federal and state pathways. Implementing rulemaking by the US Treasury and federal banking regulators is underway.
Actenacted_not_effective
Guiding and Establishing National Innovation for US Stablecoins Act of 2025
Also known as: GENIUS Act of 2025
United States US Treasury; Federal Reserve; OCC; FDIC; State banking regulators
Overview
Key Details
Jurisdiction
United StatesRegulator
US Treasury; Federal Reserve; OCC; FDIC; State banking regulators
Law Type
Act
Status
Enacted — Not Yet EffectiveOfficial Law Number
Public Law No. 119-__
Official Title
Guiding and Establishing National Innovation for US Stablecoins Act of 2025
Enacted Date
July 18, 2025
Effective Date
Not yet effective
Topics Covered
Who This Law Applies To
Permitted payment stablecoin issuers, custodial intermediaries, payment service providers and relevant federal or state supervisors operating in the United States.
Key Requirements
- Creates a federal licensing framework for payment stablecoin issuers.
- Requires 1:1 reserve backing with high-quality liquid assets.
- Sets redemption rights, disclosure and consumer-protection requirements.
- Includes federal/state issuer pathways and implementing rulemaking by Treasury and bank regulators.
Official Sources
Official indirect sourceUse enacted Public Law/Congress text as primary. Treasury release is supporting context.
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