#GENIUSActPass Here's the latest on the **GENIUS Act** as of **Wednesday, June 18, 2025**:

The **GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins of 2025)** has made a significant leap forward in the U.S. legislative process.

* **Senate Passage:** The U.S. Senate **passed the GENIUS Act by a bipartisan vote of 68-30 on Tuesday, June 17, 2025**. This is a major milestone, as it's the first comprehensive federal framework for stablecoin regulation to pass the Senate.

**What the GENIUS Act aims to do:**

* **Regulate Stablecoins:** Its primary goal is to create a clear regulatory framework for "payment stablecoins" – cryptocurrencies that are designed to maintain a stable value, typically pegged 1:1 with the U.S. dollar.

* **1:1 Backing & Transparency:** It requires that these stablecoins be fully backed by reserves (like U.S. dollars or short-term U.S. Treasuries) and mandates monthly disclosures and regular audits to ensure transparency.

* **Licensing:** It establishes licensing requirements for stablecoin issuers, allowing for both federal and state pathways for regulation.

* **No Securities Status for Compliant Stablecoins:** Importantly, the bill amends existing securities laws to explicitly state that stablecoins that comply with the new regulations are **not considered securities**, which frees them from the jurisdiction of the Securities and Exchange Commission (SEC).

* **Prohibits Algorithmic Stablecoins:** The bill specifically prohibits algorithmic stablecoins (those that rely on complex code and market incentives rather than direct asset backing to maintain their peg).

* **Consumer Protection & AML:** It includes provisions for consumer protection, and strict anti-money laundering (AML) and counter-terrorism financing (CTF) procedures.

* **Strengthening Dollar Dominance:** Proponents argue that clear stablecoin regulation will enhance the U.S. dollar's global dominance by providing a regulated, digital version of the dollar for faster, cheaper payments worldwide.