On June 17, 2025, the U.S. Senate passed the GENIUS Stablecoin Act, aimed at creating a federal regulatory framework for stablecoins. The document establishes reserve requirements, consumer protections, and oversight of major issuers. The bill, supported by senators from both parties, is now headed to the House of Representatives, where it may face a competing STABLE act. Despite similar goals, the two documents diverge in definitions and approaches to regulation. The passage of GENIUS in the Senate was the result of broad support—the bill overcame a filibuster and received a majority of votes. The further fate of the initiative depends on the position of the House and potential amendments.
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