The following is a guest post from Dean Quiambao, partner at Armanino. Opinions are the author’s own.
Stablecoins just got their moment of legitimacy.
The GENIUS Act, which clarifies how stablecoins can be issued, held and reported, shows that digital dollars are stepping onto the main stage of corporate finance. Many CFOs have waited for a clearer framework to explore stablecoins in their treasury, investment or payment operations. From my perspective, these are the most important things to know for finance leaders who are stablecoin-curious.
Stablecoins gain guardrails
The most important part of the GENIUS Act is the creation of regulatory guardrails that CFOs have demanded for years. It limits issuance to permitted payment stablecoin issuers, requires monthly reserve reporting and extends oversight to depository institutions.
There are rules of engagement now, as opposed to the early “Wild West” vibe that kept so many finance leaders on the sidelines. You may not be ready to move treasury reserves into Bitcoin, but stablecoins backed one-to-one by U.S. dollars or other highly liquid assets now come with a framework that looks a lot more like traditional finance. That opens up the option to diversify holdings, experiment with digital payments or explore new treasury strategies.
That optionality comes with responsibilities. The GENIUS Act introduces more rigorous compliance requirements, particularly around anti-money laundering, “know your customer” and reserve verification. For CFOs, this means added scope in audits and new data-tracking obligations.
On the financial reporting side, stablecoins are expected to fall under cash and cash equivalents. But that doesn’t mean stablecoins are a one-to-one replacement for cash, in bookkeeping terms.
Impairment considerations, fair value adjustments and tax reporting complexity all come into play. In other words: If you treat stablecoins like cash, make sure your systems and advisers are ready to prove it.
It takes work, but not an impossible amount of work. While there may be a one-time lift as you account for software upgrades, controls or new audit procedures, the longer-term efficiency gains may well outweigh the near-term spend on compliance.
Risks and rewards
One of the most overlooked aspects of the GENIUS Act is its potential to reduce friction in how companies move money. Traditional wires and ACH transfers are slow and expensive. Stablecoin transactions can be nearly instantaneous and cost a fraction of the fees. For global businesses, that’s a structural advantage.
Consider also the foreign exchange dimension. If you operate in markets with volatile currencies, stablecoins provide a way to receive payments or fund operations without absorbing the full FX swings.
In this way, stablecoins can change the way CFOs approach international expansion. There’s also a treasury angle. Early signs suggest stablecoin adoption may dampen demand for U.S. treasuries, nudging yields lower. For CFOs weighing capital-raising strategies, that could translate into a lower cost of borrowing.
But a new regulatory framework doesn’t mean stablecoins are risk-free.
You will need to pay careful attention to custody and storage controls. CFOs need clear internal policies on exposure limits, approval processes and oversight. Boards and audit committees will expect nothing less. And despite recent momentum and a warmer welcome from the U.S. government, stablecoins may still come with reputational risks.
Even with regulation, digital assets still carry the stigma of a “crypto experiment” in some circles. CFOs will need to frame adoption as a disciplined step toward cost efficiency and financial agility.
The most strategic CFOs won’t wait for the rules to fully phase in. They are already making moves within the 2026 budget cycle, including:
- Mapping potential use cases for stablecoins in treasury, payments or international operations
- Identifying software or third-party providers to handle compliance, reporting and tax
- Engaging boards early with proposed policies and exposure guidelines
- Testing pilot programs rather than waiting for wholesale adoption
By no means is the GENIUS Act the dawn of riskless, universally embraced stablecoins. But it is a validation step that CFOs should watch closely.
Like any new financial instrument, the early movers will face a learning curve, but they’ll also position themselves to capture the efficiency gains and strategic flexibility before their peers.
It’s useful to think of the GENIUS Act as a window of opportunity. Our role is to evaluate the risks of that opportunity and decide where stablecoins can deliver real business value.
