#GENIUSActPass

The GENIUS Act, which stands for Guiding and Establishing National Innovation for U.S. Stablecoins Act, has passed the U.S. Senate with a bipartisan vote. Here's what's happening:

- Vote Breakdown: The Senate voted 51-23 in favor of the bill on June 17, 2025, with some senators not voting. A previous vote on May 19 saw a 66-32 majority in support of the bill.

- What the Bill Does: The GENIUS Act establishes a regulatory framework for fiat-backed stablecoins, aiming to provide clarity and stability in the digital asset market.

- Next Steps: The bill has now moved to the House of Representatives for further consideration.

- Impact: Proponents believe the GENIUS Act could unlock trillions of dollars for U.S. treasuries, drive institutional adoption of decentralized finance (DeFi), and potentially spark a multi-year crypto bull market.

- Support: The bill has received backing from notable figures, including Senator Bill Hagerty and Coinbase CEO Brian Armstrong, who see it as a crucial step in shaping the future of digital dollar regulation.

The GENIUS Act's passage is seen as a significant development for the crypto industry, with potential implications for stablecoin growth and adoption.⁴