Regulatory Agencies
The GENIUS Act distributes regulatory authority across 9 federal agencies with 263 total section references. Click an agency to see what sections grant them authority and what rulemakings they must complete.
Commodity Futures Trading Commission
Regulates commodity futures and options markets
Department of the Treasury
Federal executive department responsible for promoting economic prosperity
Federal Deposit Insurance Corporation
Insures deposits and examines financial institutions
Federal Reserve Board
Central banking system of the United States
Financial Crimes Enforcement Network
Combats money laundering and financial crimes
Financial Stability Oversight Council
Identifies risks to US financial stability
National Credit Union Administration
Regulates and insures federal credit unions
Office of the Comptroller of the Currency
Primary federal regulator for national banks and federal savings associations
Securities and Exchange Commission
Regulates securities markets and protects investors
Inter-Agency Coordination
Section 13 requires Federal payment stablecoin regulators, the Secretary of the Treasury, and State payment stablecoin regulators to coordinate on the issuance of regulations. This means rulemakings will likely involve multiple agencies working together.
Federal Regulators
Primary oversight for federally-chartered issuers and subsidiaries of insured depository institutions.
- OCC— Federal qualified issuers, national banks
- Fed— State member banks, BHCs
- FDIC— State nonmember banks
- NCUA— Credit unions
State Regulators
Primary oversight for state-qualified payment stablecoin issuers under Section 7.
- • Must have supervisory, examination, and enforcement authority
- • Must meet federal standards for reserve requirements
- • Subject to federal backup enforcement by OCC if needed
- • Consumer protection laws apply in host states