#GENIUSActPass

On June 17, 2025, the U.S. Senate voted in favor of a bill called the "GENIUS Act" by a margin of 68-30 votes. The law establishes the first comprehensive regulatory framework for stablecoins (such as those pegged to the dollar) and requires issuers to hold cash reserves or U.S. Treasury bonds at a 1:1 ratio, along with monthly disclosures and adherence to anti-money laundering rules. The goal is to achieve financial stability and protect consumers. Despite bipartisan support, private securities firms (SPDIs) raised concerns about additional competition. Some Democratic voices – such as Elizabeth Warren – called for stricter measures to guard against conflicts of interest, especially regarding investments tied to President Trump. The law awaits a vote in the House of Representatives and the President's signature to become effective.