GENIUS Act passes Senate 68–30 – stablecoin bill moves to the House, marking a major step toward federal crypto licensing rules. While its passing faces strong criticism and may suggest a dual purpose behind the bill – it is moving forward, and the United States seems to be getting closer to formal stablecoin regulation.
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The World’s Largest Economy Moves Toward Stablecoin Adoption – House Decision Now Pending
The digital asset space continues to see historic developments as the U.S. Senate passes the GENIUS Act with a strong majority. The bill was approved by 68 senators, with 30 voting against, and it passed without any of the proposed amendments, including those aimed at addressing potential conflicts of interest between market participants and the original sponsors. Senator Bill Hagerty emphasized ahead of the vote:
“With this law, the U.S. moves closer to becoming a global leader in cryptocurrency. Stablecoin transactions will be settled in seconds — not days or weeks — and consumers will finally have payment tools that reflect 21st-century technology.”
Industry leaders also welcomed the development. Ripple CEO Brad Garlinghouse noted:
“For YEARS, crypto companies have been calling on Congress to pass crypto legislation and set rules of the road. This is the first major financial bill since Dodd-Frank – the first crypto bill to pass in the Senate, which now moves to the House, a truly historic moment. Thank you to @SenatorTimScott, @SenatorHagerty, @gillibrandny, @Sen_Alsobrooks, and many more for their leadership.”
The bill now heads to the House of Representatives, where its companion legislation, the STABLE Act, is scheduled for review in the next session. If the GENIUS Act advances through the House with similar momentum, fiat-referenced stablecoin issuers will be required to:
- maintain full 1:1 reserves in high-liquidity assets;
- redeem tokens at face value upon holder request;
- implement independent audits, disclosure requirements, and segregated custody of user funds;
- comply with AML/CFT and financial integrity standards.
These provisions aim to bring greater transparency and resilience to the crypto industry, reinforcing the role of stablecoins as non-volatile assets alongside the DeFi high-growth instruments.
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Conclusion
Will the GENIUS Act clear the House, along with the STABLE Act? Or will Democratic lawmakers push back more forcefully, especially regarding the unresolved issue of Donald Trump’s alleged ties to World Liberty Financial – the issuer of stablecoin USD1 earlier in 2025? We’ll be watching this landmark legislative process closely. Stay tuned for the latest updates in crypto, blockchain, and regulatory developments.
