.svg) | |
| Long title | To provide for the regulation of paymentstablecoins, and for other purposes. |
|---|---|
| Enacted by | the119th United States Congress |
| Citations | |
| Public law | Pub. L. 119–27 (text)(PDF) |
| Legislative history | |
| |
TheGuiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) is a United Statesfederal law that aims to create a comprehensive regulatory framework forstablecoins.[1] Stablecoins are a type ofcryptocurrency that are backed by assets considered to be reliable such as a national currency or a commodity. Stablecoins are typically used to transfer funds between different cryptocurrency tokens.[2]
The act requires stablecoins to be backed one-for-one byU.S. dollars or other low-risk assets.[2] This establishes a stringent standard for purposes of determining reserves, doing audits, and providing transparency for buyers; prior to passage of the GENIUS Act, stablecoins were not required to maintain a 1-to-1 backing with a low-risk asset. The act serves as a first step in establishing dualfederal andstate supervision andconsumer protection.[3]
Introduced byRepublican senatorBill Hagerty on May 21, 2025, the GENIUS Act is abipartisan effort to regulate the stablecoin industry. Its companion legislation is theU.S. House of Representatives' Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, which has similar goals but differs in some details.[4] TheU.S. Senate passed the bill on June 17, 2025, with a bipartisan vote of 68–30;[5] the majority of Republicans and about half ofDemocrats voted in favor.[2] On July 3, 2025, the House announced it would consider the bill during the week of July 14.[6] The House passed the bill on July 17, 2025 and PresidentDonald Trump signed the new legislation into law the next day. Two other cryptocurrency bills passed in the House but still need Senate approval.[7]
The nonprofit consumer organizationConsumer Reports argued the bill does not provide enough consumer protection and allows big tech companies to engage in bank-like activities without being subject to the tougher regulations required of banks.[8]
Second presidency of Donald Trump (2025–present) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General | |||||||||||||||
| Events |
| ||||||||||||||
| Policies |
| ||||||||||||||
| Democratic backsliding |
| ||||||||||||||
| Protests | |||||||||||||||
| Related |
| ||||||||||||||
 | This finance-related article is astub. You can help Wikipedia byexpanding it. |
 | ThisUnited States Congress–related article is astub. You can help Wikipedia byexpanding it. |
