Genius Act

Extracted Attributes

• Type

  United States federal law

• Scope

  Stablecoin market (estimated $250 billion)

• Purpose

  To establish a comprehensive regulatory framework for stablecoin cryptocurrencies

• Citation

  S. 1582

• Full Name

  Guiding and Establishing National Innovation for U.S. Stablecoins Act

• Key Provisions

  Mandates strict standards for reserves, audits, and transparency for issuers; establishes a dual federal and state supervisory system; requires 1:1 reserve backing in high-quality liquid assets; includes consumer protections and anti-money laundering (AML) and sanctions compliance requirements

• Policy Objectives

  Close regulatory gaps, mitigate systemic and illicit finance risks, maintain U.S. dollar dominance in the digital economy, provide clear legal pathway for stablecoin innovation

• Senate Voting Summary

  68 voted for, 30 voted against, 2 absent

Timeline

• The GENIUS Act (S. 1582) was introduced in the United States Congress by Bill Hagerty (R-Tenn.). (Source: Web Search Results)

  2025-05-21

• The GENIUS Act was passed by the United States Senate with a vote of 68-30. (Source: Web Search Results)

  2025-06-17

GENIUS Act

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), is a United States federal law that aims to create a comprehensive regulatory framework for stablecoin cryptocurrencies. Stablecoins are a type of cryptocurrency that are backed, typically, by a national currency or a commodity. The bill mandates stringent standards for reserves, audits, and transparency for issuers and establish a dual federal and state supervisory system to mitigate financial stability risks and protect consumers.

Web Search Results

• GENIUS Act - Wikipedia

  The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), is a proposed United Statesfederal law that would create the first comprehensive regulatory framework for payment stablecoins.( The bill mandates stringent standards for reserves, audits, and transparency for issuers and establish a dual federal and state supervisory system to mitigate financial stability risks and protect consumers.( Introduced by Bill Hagerty (R-Tenn.) on May 21, 2025, the GENIUS Act is a [...] | GENIUS Act | | --- | | United States Congress | | hide Long title Guiding and Establishing National Innovation for U.S. Stablecoins Act | | Citation | S. 1582 | | Passed by | United States Senate | | Passed | June 17, 2025 | | Legislative history | | Introduced by | Bill Hagerty (R-Tenn.) | | Committee responsible | Banking, Housing, and Urban Affairs | | Passed | Yes | | Voting summary | 68 voted for 30 voted against 2 absent | | Related legislation | | STABLE Act (H.R. 2392) | [...] From Wikipedia, the free encyclopedia Pending 2025 U.S. legislation on stablecoin regulation

• Trump signs landmark GENIUS Act, hailing "exciting new frontier" for ...

  The legislation, called the GENIUS Act, is the first major law governing digital currency, and establishes a regulatory framework for the $250 billion stablecoin market. Stablecoins are viewed as a relatively safe type of cryptocurrency since their value is pegged to other assets, like the dollar. The bill passed the House on Thursday with the support of 206 Republicans and 102 Democrats. [...] What is the GENIUS Act? ----------------------- The GENIUS Act (which stands for Guiding and Establishing National Innovation for U.S. Stablecoins) establishes guardrails and consumer protections for stablecoins. The bill also creates a legal category for stablecoins and establishes clear boundaries for which digital currencies could be referred to as stablecoins. With the GENIUS Act signed into law, banks, nonbanks and credit unions can dive into the market by issuing their own stablecoins. [...] The president said the GENIUS Act provides banks and other financial institutions a framework for issuing crypto assets backed "one-for-one" with real U.S. dollars and Treasury bills, "strengthening the dollar" and allowing the entire U.S. financial system to be eligible for a "21st-century upgrade."

• GENIUS Act Passes Senate, Paving the Way for Landmark US ...

  ### What is the GENIUS Act and why is it significant? The GENIUS Act is a landmark piece of legislation that establishes the first comprehensive federal framework for stablecoin regulation. The bill represents a historic step toward broader digital asset oversight, signaling the strongest congressional action to date on crypto policy. ### How does the GENIUS Act propose to regulate stablecoins? [...] The GENIUS Act is more than just a stablecoin bill. It marks a clear turning point in US digital asset policy. Rather than relying on piecemeal actions and legal battles, Congress is now laying the foundation for a proactive, legislative approach to oversight. As lawmakers in both chambers work toward a unified framework, GENIUS represents the most consequential step yet in shaping how digital assets will be governed both in today’s market and in the future of financial innovation. [...] The US Senate has passed the GENIUS Act — the first crypto-focused bill to clear either chamber of Congress. This landmark legislation establishes a comprehensive federal framework for regulating fiat-backed stablecoins, combining federal oversight with state flexibility. Key provisions include a dual licensing regime, strict 1:1 reserve backing in high-quality liquid assets, mandatory audits, consumer protections, and anti-money laundering (AML) and sanctions compliance requirements.

• The GENIUS Act: What Is It and What's Next? | Troutman Pepper Locke

  On June 17, the U.S. Senate voted 68-30 to pass S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the Act). This represents a landmark effort by the U.S. Congress to establish a comprehensive federal framework for the regulation of payment stablecoins. Passed with bipartisan support in the Senate, the Act aims to provide regulatory clarity, enhance consumer protection, and safeguard national security in the rapidly growing stablecoin [...] The Act represents a significant shift in U.S. financial regulation, introducing a tightly regulated environment for stablecoins, paving the way for more widespread, mainstream adoption of payment stablecoins by the general public. By mandating full reserve backing, robust oversight, and strong consumer and national security protections, the Act aims to foster innovation while still safeguarding the integrity of the U.S. financial system. [...] Policy Objectives The Act is designed to close regulatory gaps, mitigate systemic and illicit finance risks, and maintain the U.S. dollar’s dominance in the digital economy. It seeks to provide a clear legal pathway for stablecoin innovation while ensuring consumer and financial system protection. Definition and Scope

• The GENIUS Act and Its Impact on the Future of Stablecoins

  Manage Subscriptions On June 17, 2025, the U.S. Senate passed, by a vote of 68-30, the “Guiding and Establishing National Innovation for U.S. Stablecoin Act” (The Genius Act or S. 1582, as amended). The Genius Act seeks to create a regulatory framework for stablecoins that track the value of an underlying asset, such as the U.S. Dollar. Provisions of the GENIUS Act ---------------------------- [...] The GENIUS Act would create many regulations and rules related to stablecoins and their use. This includes standards on the issuance and payment of stablecoins, such as a requirement that a “permitted payment stablecoin issuer” maintain at least a 1 to 1 basis of United States currency, treasury bills, or other reserves with the stablecoin issued. Some additional notable provisions include: [...] Next Steps and Reception of the Bill ------------------------------------ The GENIUS Act now heads to the U.S. House of Representatives for consideration. Noting the strong support in the U.S. Senate and warm reception by prominent individuals in the cryptocurrency industry, such as Coinbase and Circle, the largest U.S. stablecoin issuer, many believe the tides have turned within Congress for passing legislation into law. Contributors