The recently passed stablecoin "GENIUS Act" in the United States

sets the following requirements for stablecoin issuers:

1. Reserve Requirements: Issuers must hold reserve assets (such as US dollars, short-term government bonds, etc.) at a 1:1 ratio.

2. Disclosure and Audit: Monthly disclosure of reserve composition, subject to review by a registered accounting firm, with the CEO and CFO required to certify the accuracy of disclosures to regulatory authorities.

3. Regulatory Framework: Stablecoin issuers may be supervised by federal or state regulatory agencies, with small issuers (those with issuance below $10 billion) allowed to choose state regulation.

4. Consumer Protection: Includes anti-money laundering (AML) rules, priority repayment rights (holders prioritized for repayment in bankruptcy), etc.

5. Restriction Clause: Prohibits members of Congress or senior executive officials from issuing payment stablecoins while in office.