#USStablecoinBill Update on the Stablecoin Bill in the U.S. (GENIUS Act) — May 5, 2025

The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) has faced significant hurdles in the U.S. Senate. Initially supported by both parties, it is now causing divisions, particularly among Democrats, due to concerns over insufficient anti-money laundering measures and potential conflicts of interest related to the Trump family's involvement in cryptocurrency projects.

---

🧾 Key Provisions of the GENIUS Act

Definition of "payment stablecoin": a digital asset backed 100% by reserves in U.S. dollars or other highly liquid assets.

Issuer Requirements: mandatory registration, compliance with liquidity and capital standards, monthly reserve certification, and prohibition on using reserves for other purposes.

Regulation: the option for issuers to choose between federal and state oversight, provided they meet established standards.