#GENIUSActPass ✅ Senate Passes GENIUS Act (June 17–18, 2025)

The U.S. Senate approved S. 1582, the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), by a bipartisan vote of 68–30 on June 17, 2025 .

This marks the first comprehensive federal stablecoin framework, now headed to the House of Representatives before the August recess .

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📝 What the Bill Mandates

Full 1:1 collateralization: Issuers must back stablecoins with highly liquid assets (U.S. dollars, short-term Treasurys, overnight repos, money-market funds) .

Transparency and Audits:

Monthly disclosures of reserves.

Annual audits for issuers with over $50 billion in market cap .

Consumer safeguards:

Stablecoin holders get priority in bankruptcy proceedings .

AML-KYC compliance mandated; issuers must have freeze/burn tools, sanctions control .

Regulatory structure:

Dual regulatory track: Federal oversight for issuers > $10 billion; state oversight for smaller ones .

Public companies (outside of financial institutions) face extra scrutiny: need unanimous approval from Treasury, Fed, and FDIC to issue .