The GENIUS Act regulates issuers. This API resolves names.
In July 2025 the United States passed the GENIUS Act, its first federal framework for payment stablecoins. In April 2026 the FDIC proposed RIN 3064-AG19 to implement it: reserve accounting, audit standards, capital rules, and deposit-insurance treatment for stablecoin issuers and the banks that hold their reserves.
Every one of those obligations attaches to the same two roles: the party that issues the stablecoin, and the party that custodies the funds. DNS://Money does a third thing: it resolves a pay: name to a settlement address and records the payment once it lands. This page maps each obligation in the rule to the party that carries it, so a compliance reviewer can check the claim against the architecture rather than take it on faith.
Where the rule's burdens actually land
The GENIUS Act and RIN 3064-AG19 govern reserves, custody, capital, and insured deposits. Map each obligation to who carries it, and the line is clean:
| Regulated obligation | Who carries it | DNS://Money |
|---|---|---|
| Hold & segregate stablecoin reserves | Issuer (e.g. Standard Custody & Trust Co.) | No. Holds no reserves |
| Custody customer funds | Chartered custodian | No. Payer signs from their own wallet |
| Reserve accounting & attestations | Issuer | No. n/a |
| Deposit insurance & Part 330 recordkeeping | Insured depository institution | No. Takes no deposits |
| Capital requirements | Parent bank / IDI | No. n/a |
| Resolve a name to a payment endpoint & record the settlement | Resolver | Yes. This is the whole job |
| Screen the counterparty (OFAC) before a payment | Resolver, on request | Yes. Signed attestation, paid per call |
In practice: a caller submits pay:architect, the resolver returns the settlement address by fixed rules, the payer signs from their own wallet, and the resolver verifies the ledger transaction and writes a settlement record. There is no intermediary account that takes a payment in and forwards it out. Every address written into the registry is OFAC-screened at write time, and an agent can buy a signed screen of any counterparty before it pays.
The dollars are regulated. We just move them.
When a payment settles in RLUSD, the regulated entity in the picture is the stablecoin's issuer, not DNS://Money. RLUSD is issued by Standard Custody & Trust Co., a New York limited-purpose trust company chartered and supervised by the NYDFS. Its reserves are held in segregated short-dated U.S. Treasury securities at greater than 1:1 backing, with monthly third-party attestations by Deloitte & Touche.
The asset you settle in carries its own regulatory pedigree. DNS://Money delivers a payment in that asset to the right address and records that it landed. The first RLUSD settlement through the rail, 0.5 RLUSD to pay:architect in four seconds, is on the ledger: TX 9CDD554F….
One limitation worth stating. While flipping RLUSD live, a misconfigured rails table let an RLUSD payment settle in XRP of the same dollar value. The fix was a routing rule, not a patch: a payment that names RLUSD now settles in RLUSD or returns HTTP 422. No substitution.
Two settlement paths, both non-custodial
Two flows exist, and in both the value moves from a wallet to the recipient's address on the ledger:
- Payer-signed. In the consumer wallet flow and in every x402 agent payment, the payer signs and submits the transaction from their own wallet; the destination is the recipient's resolved address. DNS://Money resolves and records.
- Service-signed. An authenticated developer can ask the API to settle on their behalf, in which case DNS://Money sends the payment from its own wallet directly to the recipient. That spends the service's own capital. No customer funds are received and forwarded, and no stablecoin is issued.
In both cases the ledger record shows the sending wallet, the recipient's address, and the amount. That record is the audit trail.
Read the API →FAQ
Is DNS://Money a stablecoin issuer under the GENIUS Act?
No. DNS://Money resolves a pay: name to a settlement address and records the payment. When that payment settles in RLUSD, the issuer is Standard Custody & Trust Co. under NYDFS supervision. The GENIUS Act and the FDIC's RIN 3064-AG19 govern the issuer and the custodian of a payment stablecoin, and a resolver is neither.
Does DNS://Money hold customer funds or custody crypto?
No. The payer signs the transaction from their own wallet and the value lands at the recipient's resolved address on the ledger. There is no intermediary account that takes a payment in and forwards it out. DNS://Money resolves the alias, verifies the on-chain settlement, and records it.
Is DNS://Money subject to FDIC rule RIN 3064-AG19?
No. RIN 3064-AG19 implements the GENIUS Act for FDIC-supervised permitted payment stablecoin issuers, custodians, and insured depository institutions. DNS://Money resolves names and records settlement, so the rule's reserve, capital, and deposit-insurance obligations attach to the issuer and custodian in the flow rather than to the resolver.
What is RLUSD and is it regulated?
RLUSD is a U.S. dollar-backed stablecoin issued by Standard Custody & Trust Co., a New York limited-purpose trust company chartered and supervised by the NYDFS. Its reserves are held in segregated short-dated U.S. Treasury securities at greater than 1:1 backing, with monthly third-party attestations by Deloitte & Touche.
If DNS://Money doesn't hold money, how does a payment to a pay: alias work?
A pay: alias resolves by fixed rules to the recipient's on-chain settlement address. In the consumer flow the payer signs and submits the transaction from their own wallet; in every flow the value goes straight to the recipient's address on the ledger. DNS://Money resolves the alias and records the settlement.
This page describes DNS://Money's technical architecture and regulatory posture for general information. It is not legal advice and is not a regulatory determination by any agency. RIN 3064-AG19 was a proposed FDIC rule; its public comment period closed on 2026-06-09.