S. 1582: GENIUS Act

S. 1582 is a federal bill in the 119th Congress. This legislation creates a uniform federal framework for payment stablecoins, which are digital currencies pegged to the U.S. dollar. It mandates that only approved entities can issue stablecoins, requiring them to maintain 1-to-1 reserves in ultra-safe… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.