#GENIUSActPass

On June 17, 2025, the U.S. Senate approved the GENIUS Act by a vote of 68 – 30.

📝 What is the GENIUS Act?

The name of the project is an acronym for: "Guiding and Establishing National Innovation for U.S. Stablecoins."

🎯 Its main objectives:

Regulate stablecoins (such as USDT and USDC) that are pegged to the value of the U.S. dollar.

Require a 1:1 liquidity reserve in currencies or U.S. Treasury bonds, with monthly reports on the reserves.

Define the authorized entities for issuance, whether licensed banks or non-bank entities.

Enhance consumer protection and combat money laundering, through compliance with the Bank Secrecy Act.

Prevent exploitation of congressional members, but there is an exception for the president and their family, which has sparked discussion and criticism from some Democrats like Elizabeth Warren.