Stablecoins are not securities: Unpacking the U.S. stablecoin bill
The U.S. recently introduced two legislative proposals, the GENIUS Act and the STABLE Act, aimed at regulating stablecoins. These bills primarily focus on stablecoin issuers, setting clear guidelines on issuance, reserve backing, consumer protection measures, and regulatory oversight. While they do not directly regulate stablecoin users, their implications will shape how stablecoins function within the broader financial system.
