#đď¸ GENIUS Act Update â June 17â18, 2025
â Senate Passed the GENIUS Act
The U.S. Senate approved the GENIUS Act by a 68â30 bipartisan vote on June 17, 2025 .
This bill establishes the first-ever federal regulations for U.S.-dollarâpegged stablecoins. It mandates that issuers hold full reserves in safe, liquid assets (like U.S. Treasuries and cash) and publish monthly disclosures of those reserves .
â ď¸ Political and Ethical Concerns
Some Democrats, including Elizabeth Warren and Ron Wyden, opposed or initially blocked the bill due to concerns over conflicts of interest, particularly related to former President Trumpâs crypto investments, e.g., World Liberty Financial and his $TRUMP memecoin .
Although provisions prevent Congress members and executive officials from profiting, the President and Vice President are exemptâa key point of criticism .
đ Industry Reaction & Market Impact
Supporters say the bill promotes consumer protection, regulatory clarity, and innovation. Treasury officials estimate the U.S. stablecoin market could grow to $2â3 trillion in the next decade .
Following the Senate vote, Circleâs USDC issuer saw shares jump ~16%, reinforcing investor optimism .
đď¸ Next Steps
1. Moves to the House of Representatives, where a companion bill (the STABLE Act) is under consideration .
2. The House may attach broader crypto reforms like the CLARITY Act, which could delay final passage .
3. Final legislative goal: have President Trump sign it into law before Congressâs August recess .
đĄ Why It Matters
Marks a major step toward national stablecoin oversightâcrucial for crypto's mainstream adoption.
Balances support for innovation with strict regulatory guardrails.
Sets the stage for broader regulation across the crypto ecosystem.
