#GENIUSActPass

The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, has passed the Senate with a significant majority vote of 67-27 after a cloture motion was invoked on June 12, 2025. This bipartisan bill aims to establish a regulatory framework for payment stablecoins, providing clarity and oversight for the industry.

*Key Provisions:*

- *Regulatory Framework*: The GENIUS Act establishes a clear regulatory framework for payment stablecoins, defining the roles of federal and state regulators.

- *Permitted Issuers*: Only permitted issuers, such as subsidiaries of insured depository institutions or federal-qualified nonbank payment stablecoin issuers, can issue payment stablecoins to U.S. persons.

- *Consumer Protection*: The bill prioritizes consumer protection, requiring issuers to maintain 1:1 backing for their stablecoins and adhere to anti-money laundering regulations.

- *Global Financial Implications*: The GENIUS Act could solidify the dollar's role in the digital economy and lay the groundwork for a more structured global financial framework ¹ ².

*Next Steps:*

- *House of Representatives*: The bill will now be considered in the House of Representatives, where it may face additional proposals for amendments.

- *Potential Impact*: If enacted, the GENIUS Act could reshape the landscape for U.S. crypto regulation, providing a clear "rulebook" for the industry ² ³.