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BIBLIOGRAPHY

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

United States Congress（Government Publishing Office）

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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