Committee advances bill to regulate stablecoins, tying state rules to federal "Genius Act" The House Banks & Banking Committee advanced a bill to create a state regulatory framework for stablecoin issuers, linking Georgia rules to the federal "Genius Act," requiring 1:1 backing and KYC/AML compliance and giving the Department of Banking and Finance licensing authority.

Georgia is taking a bold step to regulate stablecoins, aiming to enhance fintech competitiveness while prioritizing consumer protection with 1:1 backing and strict oversight.

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