On June 17, 2025, the U.S. Senate bipartisanly approved the GENIUS Act with a vote of 68–30, paving the way for the first federal regulatory framework for stablecoins — crypto tokens pegged to the U.S. dollar.
Key Points:
The GenAIUS Act establishes a 1:1 reserve supply, routine audits, and consumer protection standards for stablecoin issuers.
The bill received support from 18 Democratic Senators and a majority of Republicans, but some opposition arose over concerns about conflicts of interest, including the Trump family's crypto investments.
The bill now moves to the House of Representatives before it can ultimately be enacted into law.
Why This Matters?
This is a major step in legitimizing stablecoins in the U.S., providing legal certainty for businesses and investors.
There are important clauses concerning foreign issuers and national security, emphasizing politicians' awareness of global digital risks.
This represents a rare consensus in Congress on the crypto issue — a signal that digital asset regulation is now receiving serious priority.
