Woofun AI reports that the "Guiding and Establishing National Innovation for U.S. Stablecoins Act," known as the GENIUS Act, was signed by President Donald Trump one year ago, initiating the first federal regulatory framework for stablecoins in the United States.

The legislation mandates that federal agencies formulate governance rules addressing issuer reserves, governance structures, and operational requirements. The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are currently developing these specific details.