#GENIUSActPass

💥Senate Passes GENIUS Act, Paving Way for $239B Stablecoin Expansion💥

The U.S. Senate has passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in a 68–30 vote, marking the first time lawmakers have approved legislation focused on digital assets—a move welcomed by industry leaders.

The bill gained bipartisan support, with 18 Democrats joining most Republicans in favor. Only two Republicans opposed the measure. The GENIUS Act introduces a federal framework to regulate stablecoins, requiring dollar-backed reserves and clearly defined roles for state and federal oversight.

The bill seeks to integrate stablecoins into the broader financial system more securely, responding to longstanding calls from the crypto industry and financial institutions for consistent rules.

Anil Oncu, CEO of Bitpace, called the vote a turning point. “The bill provides the clarity businesses have been waiting for and allows stablecoins’ speed and cost benefits to be safely integrated by banks, PSPs, and card networks,” he said.

Oncu explains that the stablecoin supply has grown from under $10 billion to $239 billion in just five years, showing the need for safeguards and regulatory consistency.