#GENIUSActPass The GENIUS Act, recently passed by the U.S. Senate with a vote of 68-30 on June 17, 2025, establishes a federal regulatory framework for stablecoins: it requires 1:1 backing in dollars or liquid assets, periodic audits, priority of payments in bankruptcies, and a ban on misleading marketing. Additionally, it imposes restrictions on large issuers and even blocks members of the Executive and Congress from holding stablecoins (except for the president and vice president).