#GENIUSActPass

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

📝 What is the GENIUS Act?

The project name 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.

Mandate a 1:1 liquidity reserve in currencies or U.S. Treasury bonds, with monthly reporting 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 exception for the President and their family, which has sparked debate and criticism from some Democrats like Elizabeth Warren.

🛣️ What now?

The law 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 merged 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).