#GENIUSActPass In a landmark move on June 17, 2025, the U.S. Senate passed the GENIUS Act with a decisive 68–30 bipartisan vote, marking the first time a major federal framework for stablecoins has cleared either chamber  . The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act mandates that stablecoin issuers maintain 1:1 backing with safe, liquid assets such as U.S. dollars or Treasury bills, publish audited reserve disclosures, comply with AML requirements, and bar nonfinancial or foreign entities from issuing pegged tokens on U.S. soil