#GENIUSActPass

The U.S. Senate has officially passed the GENIUS Act—the Guiding and Establishing National Innovation for U.S. Stablecoins Act—marking a historic milestone in crypto regulation. Passed with a 68–30 vote on June 17, 2025, the bill establishes the first comprehensive federal framework for dollar-pegged stablecoins. It grants the Treasury Department sweeping authority to oversee the issuance and compliance of stablecoins, requiring full reserve backing, monthly audits, and anti-money laundering safeguards.

The legislation opens the door for banks, fintechs, and even major retailers like Amazon and Walmart to issue or integrate stablecoins into their payment systems. Supporters argue it will modernize the U.S. payment infrastructure, enabling near-instantaneous transactions and reinforcing the dollar’s dominance in the digital economy.

However, the bill has not been without controversy. Critics Senate Democrats, raised concerns over President Trump’s financial ties to the crypto industry, including $57 million in token sales in 2024. Attempts to include provisions barring elected officials from profiting off digital assets were blocked, sparking debate over transparency and ethics in digital finance.

The GENIUS Act now heads to the House, where its fate remains uncertain—but its Senate passage signals a seismic shift in how the U.S. approaches digital currency regulation.