The United States finally has a stablecoin law. President Trump signed the GENIUS Act on July 18, 2025, giving the industry something it has been asking for, and dreading, in equal measure: a federal rulebook.
The deadline that matters most is July 18, 2028. After that date, service providers cannot offer stablecoins to US users unless those coins are issued by a Permitted Payment Stablecoin Issuer, or PPSI, that meets the new federal standards.
What the law actually requires
The GENIUS Act, short for Guiding and Establishing National Innovation for U.S. Stablecoins Act, mandates one-to-one backing for every payment stablecoin in circulation. Reserves must consist of US dollars or short-term Treasury securities.
Issuers must also publish monthly disclosures about their reserve composition.
