The #GENIUS稳定币法案 GENIUS Stablecoin Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) was passed by the U.S. Senate on June 17, 2025, with a vote of 68-30, aiming to establish the first federal regulatory framework for stablecoins. The bill requires issuers to hold a reserve of highly liquid assets at a 1:1 ratio, comply with anti-money laundering rules, and prioritize consumer repayment rights in the event of bankruptcy. The bill still needs to be passed by the House of Representatives, and controversies include insufficient restrictions on large technology companies issuing stablecoins and potential conflicts of interest.