Davis Polk Discusses Stablecoin Bill as Crypto Legislation Gains Momentum
Reynolds Holding
FEBRUARY 24, 2025
Stablecoins of 2025 Act the GENIUS Act cosponsored by Senate Banking Chair Tim Scott (R-SC) and Sens. It is also generally consistent with the core substantive components of these earlier bills, such as the definition of payment stablecoin, stablecoin reserve requirements and bank-like regulation for both bank and nonbank issuers.
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