Glossary
33 defined terms from Section 2 of the GENIUS Act. Click a term to see where it's used throughout the law.
A
Appropriate Federal Banking Agency
(See bill text for full definition)
B
Bank Secrecy Act
(See bill text for full definition)
Board
The Board of Governors of the Federal Reserve System.
C
Comptroller
The Office of the Comptroller of the Currency.
Corporation
The Federal Deposit Insurance Corporation.
D
Digital Asset
Any digital representation of value that is recorded on a cryptographically secured distributed ledger.
Digital Asset Service Provider
The term “”
Distributed Ledger
Technology in which data is shared across a network that creates a public digital ledger of verified transactions or information among network participants and cryptography is used to link the data to maintain the integrity of the public ledger and execute other functions.
Distributed Ledger Protocol
Publicly available and accessible executable software deployed to a distributed ledger, including smart contracts or networks of smart contracts.
F
Federal Branch
(See bill text for full definition)
Federal Qualified Payment Stablecoin Issuer
(See bill text for full definition)
Foreign Payment Stablecoin Issuer
An issuer of a payment stablecoin that is
I
Institution-affiliated Party
With respect to a permitted payment stablecoin issuer, the term “” means any director, officer, employee, or controlling stockholder of the permitted payment stablecoin issuer.
Insured Credit Union
(See bill text for full definition)
Insured Depository Institution
(See bill text for full definition)
L
Lawful Order
Any final and valid writ, process, order, rule, decree, command, or other requirement issued or promulgated under Federal law, issued by a court of competent jurisdiction or by an authorized Federal agency pursuant to its statutory authority, that
M
Monetary Value
A national currency or deposit (as defined in section 3 of the Federal Deposit Insurance Act ) denominated in a national currency.
Money
The term “”
N
National Currency
Each of the following:
Nonbank Entity
A person that is not a depository institution or subsidiary of a depository institution.
O
Offer
To make available for purchase, sale, or exchange.
P
Payment Stablecoin
The term “”
Permitted Payment Stablecoin Issuer
A person formed in the United States that is
Person
An individual, partnership, company, corporation, association, trust, estate, cooperative organization, or other business entity, incorporated or unincorporated.
Primary Federal Payment Stablecoin Regulator
(See bill text for full definition)
R
Registered Public Accounting Firm
(See bill text for full definition)
S
Stablecoin Certification Review Committee
The committee of that name and having the functions as provided in this Act
State
Each of the several States of the United States, the District of Columbia, and each territory of the United States.
State Chartered Depository Institution
State depository institution The term “” has the meaning given the term “” in section 3(c) of the Federal Deposit Insurance Act .
State Payment Stablecoin Regulator
A State agency that has primary regulatory and supervisory authority in such State over entities that issue payment stablecoins.
State Qualified Payment Stablecoin Issuer
An entity that
Subsidiary
(See bill text for full definition)
Subsidiary Of An Insured Credit Union
With respect to an insured credit union, the term “” means
Why Definitions Matter
Every capitalized term in the GENIUS Act has a specific legal meaning defined in Section 2. Understanding these definitions is crucial for compliance.
Key Terms
- Payment stablecoin — The core regulated asset
- Permitted payment stablecoin issuer — Who can issue
- Payment stablecoin reserve — Required backing
💡 Click any definition to see which sections of the law reference that term.