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Regulatory Framework - The GENIUS Act establishes a supervisory system for stablecoins mirroring that of national banks [1] - US stablecoin issuers will be supervised by the FRB, the FDIC, the OCC, or a state banking agency [2] - Issuers must maintain reserves backing their coins on at least a 1:1 basis with high-quality, liquid assets [2] - Monthly disclosure of reserve composition is required for stablecoin issuers [2] Market Impact - Enhanced supervision is expected to create a sense of safety in stablecoins [3] - Increased safety perception is anticipated to drive mass market adoption of stablecoins [3] - Current lack of widespread stablecoin adoption is attributed to a lack of perceived safety compared to traditional banks [1]