#GENIUSActPass

On June 17, 2025, the U.S. Senate approved the GENIUS Act by a vote of 68 – 30.

📝 What is the GENIUS Act?

The name of the project is an acronym for: "Guiding and Establishing National Innovation for U.S. Stablecoins."

🎯 Its main objectives:

Regulate stablecoins (such as USDT and USDC) that are pegged to the value of the U.S. dollar.

Require a 1:1 liquidity reserve in currencies or U.S. Treasury bonds, with monthly reports on the reserves.

Identify the entities authorized to issue them, whether licensed banks or non-bank entities.

Enhance consumer protection and combat money laundering, by complying with the Bank Secrecy Act.

Prevent exploitation of congressional members, but there is an exception for the President and their family, which has sparked debate and criticism from some Democrats like Elizabeth Warren.

🛣️ What now?

The bill has now moved to the U.S. House of Representatives for further review before being sent to the President for signing.

It is expected to be combined with the STABLE Act in the House and may be approved before the parliamentary recess in August.

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✨ Why is this event important?

The first comprehensive federal regulatory framework for stablecoins in the United States.

It provides legal clarity for the digital currency industry, enhancing trust and encouraging major companies and institutions (such as Amazon, Walmart).