One year after GENIUSACT came into effect, U.S. regulators are still formulating stablecoin rules

U.S. President Donald Trump signed the "Guiding and Establishing National Innovation for U.S. Stablecoins Act", or GENIUSACT, a year ago, making the United States launch the construction of a federal regulatory framework for stablecoins for the first time. GENIUSACT requires federal regulators to develop stablecoin governance rules covering issuer reserves, governance and operating requirements. Relevant rules are still being formulated by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and other institutions.