#GENIUSActPass

As of 04:18 PM +06 on June 18, 2025, the GENIUS Act has passed the Senate with a 68-30 vote, establishing a regulatory framework for stablecoins. This bipartisan bill, effective January 2026, allows permitted issuers—tied to insured banks or qualified nonbanks—to issue dollar-backed stablecoins, with strict reserve and AML requirements. Critics, like Sen. Warren, warn of risks, including potential exploitation by foreign entities and insufficient oversight, citing Trump’s crypto ventures. Supporters see it as a step toward U.S. leadership in crypto. The bill now heads to the House—its future remains uncertain amid ongoing debates!