1ST STEP TOWARD BETTER CLARITY REGULATION ON CRYPTO.#XRPGoal

As of May 21, 2025, the GENIUS Act—officially known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act—has not yet been fully approved by the U.S. Congress. The bill has passed a significant procedural vote in the Senate with a 66–32 majority, indicating strong bipartisan support and moving it closer to final passage .

The GENIUS Act aims to establish a federal regulatory framework for stablecoins, which are digital assets pegged to traditional currencies like the U.S. dollar. It includes provisions for licensing stablecoin issuers, implementing reserve requirements, and ensuring compliance with anti-money laundering laws .

While the Senate has advanced the bill, it still requires approval from the House of Representatives and the President's signature to become law. The House is expected to consider the legislation soon, with a vote anticipated before the Memorial Day recess on May 26, 2025 .

It's worth noting that the GENIUS Act is distinct from the STABLE GENIUS Act introduced in 2018, which was a satirical proposal unrelated to cryptocurrency regulation.