Senate approves state licensing framework for 'payment stablecoins' under Genius Act model
Senators passed HB 259, enabling Alabama to license permitted payment stablecoin issuers in line with the federal Genius Act framework, set reserve and AML requirements, require monthly reserve disclosures and grant examination and enforcement power to the Alabama Securities Commission.
The full story
The Senate passed House Bill 259 on March 31, 2026, establishing a state licensing and supervisory framework for payment stablecoins for entities under certain thresholds and consistent with the federal Guiding and Establishing National Innovation for US Stablecoins (the "Genius Act").
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