The GENIUS Act, or the Guiding and Establishing National Innovation for U.S. Stablecoins Act, aims to create a comprehensive regulatory framework for payment stablecoins in the United States. These digital currencies are designed to maintain a stable value, typically pegged to fiat currencies like the US dollar. The legislation seeks to enhance consumer protection, ensure compliance with anti-money laundering laws, prevent terrorism financing, and promote financial stability while encouraging innovation in the digital finance sector.