Bill S.1582 – GENIUS Bill was passed with 54 votes in favor (Yea) and 24 votes against (Nay) => meaning it has been approved in the Senate.
- Senator Cynthia Lummis confirmed that the GENIUS Act was officially passed by the U.S. Senate on June 18, 2025.
- After the Senate passes it, the bill will need to be voted on by the House of Representatives (if not already) and then signed by the President to become official law (unless the House has already passed it before and this is just the final amendment).
=> If progress is good, the President may sign it in mid or late July.
- Additionally, J.P. Morgan @jpmorgan recently submitted a trademark filing for JPMD, understood as a brand for trading and payment services related to comprehensive tokenization, both centralized & decentralized.
- Objective: To shape a real-time token banking stack including:
+ Custody
+ Securities brokerage
+ Real-time token trading
+ Electronic fund transfers
+ Secure online financial transactions
=> This means: JPMD is not just a token => it is the infrastructure for traditional financial services to be 'tokenized' and processed for real-time settlement.
*Some other notes:
- After the GENIUS Act is passed, stablecoin protocols may have to publicly disclose their reverses (collateral), along with the potential risk of the House of Representatives adding some stricter provisions, so currently it is not a very good time, it's just a positive step.
- JPMD's activities may pave the way for the development of real infrastructure-compatible protocols like @chainlink.
- With JPMorgan's involvement, other major banks (Citi, BNY Mellon, Goldman...) may soon launch these services.
- What do you think?
#steven_research
