The GENIUS Act, the first standalone federal cryptocurrency law, introduces comprehensive regulations for stablecoins. Under the new law, stablecoins must maintain a 1:1 backing with either U.S. dollars or Treasuries. Additionally, issuers are required to conduct monthly reserve audits and adhere to stringent Anti-Money Laundering (AML) protocols. This legislation marks a significant step towards regulated innovation in the digital currency space, providing a clear framework for stablecoin operations.