#GENIUSActPass The GENIUS Act, passed by the U.S. Senate on June 17, 2025, with a 68-30 vote, establishes the first federal framework for regulating stablecoins, cryptocurrencies pegged to assets like the U.S. dollar. Officially titled the Guiding and Establishing National Innovation for U.S. Stablecoins Act, it mandates one-to-one reserve backing, anti-money laundering compliance, and consumer protections, including bankruptcy priority for token holders. Issuers can choose federal or state oversight, with larger issuers (over $10 billion) under federal supervision. Critics, like Sen. Elizabeth Warren, argue it enables corruption and financial risks, while supporters see it fostering innovation and U.S. economic competitiveness.