Yes, you probably read about it in the trends, but you haven't understood a thing about it... Don't worry, I'll explain it to you in simple terms... A law that will change the game, I assure you. And as I promised, here is this article.
Indeed, the United States Senate just took a giant step in the world of cryptocurrencies. You've probably heard something about this, but let me clarify it for you so you don't miss anything... THE GENIUS ACT HAS BEEN APPROVED IN THE SENATE!
If it was talked about as a "concept" or a "brilliant idea", now it is a much more tangible reality. On Tuesday, June 17, 2025, the U.S. Senate approved with solid bipartisan support (68 votes in favor and only 30 against!) the GENIUS Act, whose full name is "Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025."
This is not a drill! It is the first major legislation on cryptocurrencies that has made such progress in the U.S. Congress, marking a turning point for the sector.
The GENIUS Act: Stablecoins with a Passport to the Future!
The headache that was the lack of regulatory clarity for cryptocurrencies may have an effective remedy, as this law aims to provide some acetaminophen for that headache, at least for a specific type of crypto: stablecoins.
Let me quickly outline everything in simple points so you can understand what this is about:
1. Full-throttle regulation for Stablecoins: This is the juice of the law. It establishes a clear regulatory framework for stablecoins, designed to remain pegged to the U.S. dollar. This is the backbone of many operations in our crypto ecosystem.
2. Backing and Audits all the time: Goodbye to unsupported stablecoins, the Genius will require that all stablecoins have their corresponding backing in liquid and verifiable assets. 100% reliability in Dollar or short-term treasury bonds. Additionally, issuers must be prepared for audits every 30 days to avoid collapses like in the past.
3. Open door for new players: "Here comes a new challenger" Just like in Street Fighter, new players can enter the game and add flavor, rhythm, and reggaeton to the asset market. Banks, financial technology companies (fintechs), and even retailers will be able to launch their stablecoins or integrate them into their payment systems (I'm talking to you, Steam). This heralds an acceleration in the innovation and adoption of these stable currencies.
4. For now, no Stablecoins for yield: The law prohibits them, seeking to avoid risks and maintain system stability. The so-called "yield-bearing stablecoins" will be offside for at least a while.
5. Centralized Authority at the Treasury: An authority to watch over them all. The regulation of stablecoins will be centralized primarily under the authority of the U.S. Department of the Treasury, aiming for more consistent supervision at the federal level.
6. Consumer Protection and Money Laundering: Broad consumer protection requirements and strict anti-money laundering rules are included, aimed at legitimizing the use of stablecoins and preventing illicit activities. Zero launders, at least that's the goal...
7. Transparency for Politicians: In a buzzer-beater, the provision that requires members of Congress and Executive Branch officials to disclose their stablecoin holdings over $5,000 was added. This arose amid debates over possible conflicts of interest, including those of President Trump's family in the crypto space. Watch out, orange man!
And stay tuned! The Senate approval is a milestone, but the GENIUS Act is not law yet. It is now heading to the House of Representatives, where negotiations are expected and possibly a merger with a similar bill already there, like the "STABLE Act." If both chambers manage to reconcile their versions and President Trump signs it before the August recess (his administration has expressed interest in the legislation), then we will see the real impact!
To sum it up: the approval of the GENIUS Act in the Senate is a significant victory for the cryptocurrency industry and a clear indication that the U.S. seeks to take the lead in the regulation of digital assets. It is a huge step toward a future where cryptocurrencies, or at least stablecoins, can operate with greater certainty and confidence. Keep an eye on what happens in the House of Representatives. We will be attentive and let you know everything.
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Adrián Hermógenes
Internationalist
