The introduction of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoin Act) is expected to encourage widespread adoption of stablecoins in traditional finance and payments activities—presenting an opportunity for developers, entrepreneurs and financial service providers in Canada to consider how they will participate in the evolving financial ecosystem.

What you need to know

The GENIUS Act outlines a regulatory framework for payment stablecoins within the U.S., providing clear rules for issuers in a bid to de-risk USD fiat-backed payment stablecoins.

To facilitate international transactions and interoperability with USD denominated payment stablecoins issued overseas, the U.S. Treasury Department plans to implement reciprocal arrangements with jurisdictions

See Full Page