#GENIUSActPass
On June 17, 2025, the U.S. Senate approved the groundbreaking GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) with a strong bipartisan vote of 68–30. Marking a historic step, this is the first comprehensive cryptocurrency legislation to pass the Senate, setting up a clear legal structure for U.S. dollar-linked stablecoins.
Key components of the bill include: a dual-licensing approach at both state and federal levels for stablecoin issuers; mandatory 1:1 reserve support using cash or U.S. Treasuries; consistent auditing and public transparency of reserves; guaranteed rights for users to redeem stablecoins and protections against issuer bankruptcy; recognition of issuers as financial institutions for anti-money laundering and sanctions regulations; limitations preventing non-financial public corporations from offering payment stablecoins; and disclosure obligations for officials with significant stablecoin assets.
Although this Senate milestone offers much-needed regulatory certainty, the GENIUS Act must still be harmonized with the House’s STABLE Act before it can become law.
