When you hold US stablecoin law, a set of federal regulations under development to govern digital currencies pegged to the U.S. dollar. Also known as stablecoin oversight, it’s not about banning crypto—it’s about forcing issuers to prove they have real cash reserves, follow banking rules, and stop pretending they’re just another token. This isn’t theoretical. In 2024, the Treasury Department started requiring stablecoin issuers to get bank charters or partner with licensed banks. That means USDC, a dollar-backed stablecoin issued by Circle, which now operates under a state trust charter and USDT, Tether’s dominant stablecoin, which has faced scrutiny over its reserve transparency are being forced to change how they operate. If they don’t, they’ll be blocked from U.S. payment systems—and that’s a death sentence for any crypto asset tied to the dollar.
The law doesn’t just target issuers. It hits exchanges, wallets, and even everyday traders. Platforms like Echobit and Hermes Protocol that let you swap stablecoins must now verify their liquidity sources. If a DEX like xSigma claims to offer zero slippage on USDC trades, regulators will demand proof those dollars are actually on deposit. That’s why you’re seeing more exchanges shut down or leave the U.S. market—like EQONEX and TOPBTC—because they couldn’t meet the new standards. Meanwhile, airdrops like KCCSwap or NAMA Protocol that promised free stablecoins? Most of them were scams. The law makes it harder to fake reserves, so fake tokens are dying faster.
This isn’t just about compliance. It’s about survival. If you’re holding stablecoins for trading, earning yield, or avoiding volatility, you need to know who’s regulated and who’s not. The US stablecoin law is forcing the market to clean up. That means fewer risky tokens, fewer fake airdrops, and more reliable platforms. But it also means fewer options. You’ll see fewer DEXs, fewer low-fee swaps, and more KYC checks. The good news? The ones that remain will be safer. The ones that don’t comply? They’ll vanish overnight. Below, you’ll find real reviews of exchanges, wallets, and tokens that are still standing under these new rules—and the ones that didn’t make it.
The GENIUS Act is the U.S.'s first federal law regulating stablecoins, requiring 1:1 reserves, banning unlicensed issuers, and enforcing strict AML rules. It takes effect in January 2027 and reshapes how digital dollars work in America.