๐บ๐ธ GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)
๐๏ธ Legislative Journey
Senate passed it on June 17, 2025 (68โ30 vote)
House approved it on July 17, 2025 (308โ122 vote)
Signed into law by President Trump on July 18, 2025
๐ Related Legislation
STABLE Act: A House counterpart with stricter provisions (e.g., no interest payouts) โ not yet reconciled
Clarity Act: Passed by House; proposes CFTC as the primary crypto regulator
AntiโCBDC Surveillance State Act: Blocks a U.S. central bank digital currency
---
๐งญ What This Means
Stakeholder Impact
Stablecoin issuers Need proper chartering, reserves, audits, compliance, and licensing
Investors & consumers More transparency and protection, but must track backing and audits
Financial system Could boost use of short-term Treasuries, but regulatory clarity may incentivize stablecoin issuance
Foreign stablecoin firms Access to U.S. market if they meet reciprocity rule