#GENIUSActPass First federal stablecoin framework: The bill mandates that stablecoins be backed by safe, liquid assets—like U.S. Treasuries or dollar deposits—and requires monthly disclosure of those reserves .

Bipartisan support: 18 Democrats joined the Republican majority. However, Senators Rand Paul and Josh Hawley opposed the bill over concerns about federal overreach and Big Tech involvement .

Voices of dissent: Senator Elizabeth Warren voted ‘no,’ arguing the safeguards aren’t strong enough and warning about conflicts of interest, particularly in relation to President Trump’s personal crypto ventures .

Next stage: U.S. House: The legislation now moves to the House, where a companion "STABLE Act" and larger crypto reform efforts may be merged or amended .

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🔍 Why it matters:

Regulatory clarity: The bill offers much-needed federal guidance to stablecoin issuers, addressing issues like reserve backing, transparency, and anti-money-laundering controls .

Market implications: Major issuers like Tether (USDT) and Circle (USDC)—together holding around $217 billion in market cap—will now operate under firmer rules .

Crypto industry win: This marks the first major pro-crypto law passed by Congress, signaling growing influence of the digital asset sector .

Lingering concerns: Some lawmakers and watchdogs worry about weak anti-corruption measures, especially regarding presidential exemption, and insufficient AML protections .