The GENIUS Act is the U.S. federal framework for payment stablecoins enacted to govern permitted payment stablecoin issuers, reserves, supervision, and related risk controls. For compliance teams, its importance is that PPSIs are treated as financial institutions for Bank Secrecy Act purposes and are subject to AML, sanctions, customer identification, and due diligence obligations.
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Glossary term
What is GENIUS Act?
The GENIUS Act is the U.S. federal framework for payment stablecoins enacted to govern permitted payment stablecoin issuers, reserves, supervision, and related risk controls. For compliance teams, its importance is that PPSIs are treated as financial institutions for Bank Secrecy Act purposes and are subject to AML, sanctions, customer identification, and due diligence obligations.