Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), Public Law 119-27

Claims Supported by This Source

1. Enacted July 18, 2025 (Approved July 18, 2025). Passed by the Senate on June 17, and the House on July 17.
2. Section 2(22): Payment stablecoin = a digital asset used for payment or settlement, for which the issuer is obligated to convert, redeem, or repurchase for a fixed amount of monetary value and which is represented as maintaining a stable value. Does not include a national currency or deposits.
3. Reserves must be at least 1-to-1 with the amount in circulation. Components include U.S. coins and currency (including Federal Reserve notes), funds in an account at a Federal Reserve bank, demand deposits at an insured depository institution, U.S. Treasury securities with a remaining or original maturity of 93 days or less, and overnight repo/reverse repo agreements collateralized by them.
4. The issuer may not pay interest or a yield to a holder solely for owning, using, or holding it.

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