On June 17, 2025, the U.S. Senate passed the bipartisan GENIUS Act with a strong 68–30 vote, establishing the first federal regulatory framework for stablecoins. The bill requires full one-to-one reserves in cash or short-term U.S. Treasuries, monthly transparency reports, and enhanced consumer protection and anti–money laundering measures. It also prohibits issuers from offering interest and prevents lawmakers from creating their own coins—measures aimed at addressing concerns around Trump-affiliated initiatives. The legislation now moves to the House, where supporters expect it to pass before the August recess. The Act has already boosted investor confidence, with shares of Circle, the issuer of $USDC, rising sharply in response.
