Key Developments:

The Genius Act (Guiding and Establishing National Innovation for the Stablecoin Act in the United States of 2025): The bill (S. 919) was reported by the Senate Committee on Banking, Housing, and Urban Affairs on March 18, 2025. It aims to create a regulatory framework for payments, defining them as digital assets issued for payment or settlement (E.G $).

It outlines the requirements for issuing stablecoins, the payment process, and the application and approval process. An application that is not acted upon within 120 days will be adopted.