Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act)

Plain-English summary

Public Law 119-27, enacted 18 July 2025. Only a permitted payment stablecoin issuer may issue payment stablecoins in the US; issuers must hold reserves of at least 1-to-1, publish redemption policies and monthly reserve reports, and are treated as BSA financial institutions. Three years after enactment, digital asset service providers may not offer non-permitted stablecoins to US persons (Sec. 3(b)(1)).

Who it applies to

Banking · Payments & Fintech · Crypto / VDA

Topics

AML / CFT / Sanctions Payments & Fintech / Digital Assets

Obligations arising from this law or regulation

Obligation	Timing	Regulator	Source
Approval as a permitted payment stablecoin issuer	Deadline Before issuing a payment stablecoin	—	source
Sec. 3(a) of the GENIUS Act allows only a permitted payment stablecoin issuer to issue payment stablecoins in the US. Eligible issuers are US-formed subsidiaries of insured depository institutions, Federal qualified issuers or State qualified issuers (Sec. 2(23)), approved under Sec. 5.
Stablecoin reserves, redemption policy and monthly reserve reporting	Frequency Monthly	—	source
Sec. 4(a) requires reserves of at least 1-to-1 in eligible assets such as US currency, insured deposits and short-dated Treasuries, a published redemption policy and monthly reserve composition reports examined by a registered public accounting firm and certified by the CEO and CFO. Issuers may not pay yield solely for holding the stablecoin (Sec. 4(a)(11)). Issuers are also treated as BSA financial institutions (Sec. 4(a)(5)).
No obligations match these filters.

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