#GENIUSActPass Senate Passes GENIUS Act to Regulate Stablecoins

On June 17, 2025, the U.S. Senate approved the GENIUS Act with a bipartisan 68–30 vote, marking the country’s first federal framework for stablecoins . The law requires stablecoins to be fully backed by safe, liquid assets (like U.S. Treasuries), mandates annual audits for large issuers, and bans foreign stablecoin entities . It now moves to the House, where broader crypto reforms—such as the CLARITY Act—may be attached. Despite broad support, critics warn loopholes remain, especially around executive conflicts of interest tied to President Trump’s crypto holdings .