#GENIUSActPass US Senate Approves the GENIUS Act, Paving the Way for Stablecoin Regulation
On June 17, 2025, the US Senate passed the Guidance and Establishment of National Innovation for US Stablecoins Act (GENIUS) with a bipartisan vote of 68–30, marking a significant step toward establishing a federal regulatory framework for stablecoins. The legislation requires that stablecoins be backed one-to-one by liquid assets, such as US dollars or short-term Treasury securities, mandates that issuers comply with anti-money laundering regulations, and subjects large issuers to financial audits.