#GENIUSActPass The U.S. Senate passed the landmark GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) on June 17, 2025, in a bipartisan 68-30 vote. This first major crypto bill to clear the Senate creates a regulatory framework for dollar-pegged stablecoins.

Key provisions mandate: dual federal/state licensing for issuers; 1:1 reserve backing with cash or Treasuries; regular audits and public reserve disclosures; consumer redemption rights and insolvency protections; classifying issuers as financial institutions for AML/sanctions compliance; restrictions on non-financial public companies issuing payment stablecoins; and disclosure requirements for large stablecoin holdings by senior officials.

Passage provides crucial regulatory clarity, though the bill must still be reconciled with the House's STABLE Act before becoming law.