The ‘Guiding and Establishing National Innovation for U.S. Stablecoins’ (GENIUS) Act has just passed and it is a landmark in the history of blockchain and crypto assets. This is a big day for the crypto space and Aptos
Some of the main aspects of this bill are as follows:
> Only Regulated Entities Can Issue Stablecoins
Issuers must be approved banks, bank subsidiaries, or state/federally licensed nonbanks.
> 1:1 Reserve Backing Is Mandatory
All stablecoins must be fully backed by U.S. currency, short-term Treasuries, or similarly liquid assets.
> Monthly Disclosures & Audits Required
Issuers must publish monthly reserve reports and undergo third-party audits and executive certifications.
> Strict Custody Rules for Customer Funds
Stablecoins and keys held for users must be segregated from company assets and protected from creditors.
> $100K/Day Penalty for Unauthorized Issuance
Anyone issuing stablecoins without proper approval faces steep daily fines.
> State Regulation Allowed (Under $10B Cap)
Issuers under $10 billion market cap may operate under state laws—if those laws match federal standards.
> Mandatory Transition to Federal Oversight Over $10B
Issuers exceeding $10B must register federally within 360 days or stop issuing new stablecoins.
> Stablecoin Holders Get Top Priority in Bankruptcy
If an issuer collapses, holders are first in line to recover assets.
> Not Considered Securities or Commodities
Stablecoins are officially excluded from SEC and CFTC oversight as investment products.
> Federal Oversight Ensures Interoperability and Risk Control
Agencies may set interoperability standards and will report annually on market stability and trends.
Check out the bill in full below:
Check out the posts from Aptos and our CEO Dr. Avery Ching
Some media articles on this historic bill below:
- US House passes stablecoin legislation, sending bill to Trump | Reuters
- https://www.coindesk.com/policy/2025/06/17/u-s-senate-passes-genius-act-to-regulate-stablecoins-marking-crypto-industry-win
ICYMI: Check out the highlights of when Aptos CEO Dr.@AveryChing attended the hearing at the House Committee on Agriculture on the subject of “American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework”: