#GENIUSActPass
On June 17, 2025, the U.S. Senate passed the GENIUS Act in a 68‑30 bipartisan vote, establishing the first federal regulatory framework for stablecoins . It mandates dollar-backed reserves, monthly audits, AML measures, and restricts foreign and non‑financial issuers. It also bans lawmakers from profiting off stablecoins—though notably excludes the President and family—amid concerns over Trump’s crypto ventures . The bill aims to bring clarity, consumer protection, and national security oversight. It now heads to the House, marking a pivotal step toward mainstreaming stablecoins in U.S. finance.