#GENIUSActPass

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

📝 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 maintaining 1:1 liquidity in currencies or U.S. Treasury bonds, with monthly reports on reserves.

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

Enhance consumer protection and combat money laundering, through compliance with the Bank Secrecy Act.

Prevent exploitation of members of Congress, but there is an exemption for the president and his family, which sparked debate and criticism from some Democrats like Elizabeth Warren.