GENIUS Act Passed by Senate

On June 17, 2025, the U.S. Senate passed the GENIUS - Guiding and Establishing National Innovation for U.S. Stablecoins - Act, by a 68 to 30 votes, with 18 Democrats voting yes.

A stablecoin is a type of crypto asset - a digital token - designed to maintain a stable value relative to a reference asset, such as the U.S. Dollar, or another fiat currency, or a commodity like gold, or a pool or basket of assets. Stablecoins generally are designed to track the value of the reference asset on a one-for-one basis. For example, 1 $US = 1 Stablecoin.

Traditionally used as bridge currencies for crypto traders, stablecoins today are benefiting from increased interest by banks and payment firms as the Trump administration rolls back Biden-era crypto policies.

The GENIUS Act would establish strict oversight and approval standards for U.S. issuers of stablecoins. Companies selling these assets to U.S. investors would be required to maintain robust reserves, adhere to rigorous transparency and anti-money laundering rules, and operate under enhanced regulatory supervision, potentially including new capital requirements.

The GENIUS Act would establish strict oversight and approval standards for U.S. issuers of stablecoins.

A separate crypto bill, the CLARITY – Digital Asset Market Clarity – Act of 2025, would split federal authority to regulate crypto based on the offer and sale of digital commodities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The bill advanced from the House Committee on Financial Services by a vote of 32 to 19 on June 10, 2025.

•  The text of the GENIUS Act can be seen HERE
•  The text of the CLARITY Act can be seen HERE