GENIUS Act of 2025
The GENIUS Act of 2025 establishes a regulatory framework for payment stablecoins in the United States, requiring that only permitted issuers (including bank subsidiaries and Federal-qualified nonbank entities) can issue them. These issuers must maintain reserves at a 1:1 ratio with specific assets like U.S. Treasury bills, cash, or deposits, undergo monthly audits, and publicly disclose reserve composition. The bill prohibits misleading claims that stablecoins are government-backed or insured, and requires compliance with anti-money laundering and sanctions laws. It also creates a path for state-level regulation of smaller issuers while ensuring consistent national standards.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
President
Introduced Mar 10, 2025
Last action Mar 18, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
2
Committee
3
Mar 18, 2025
Upper · Passed
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.
upper
Mar 13, 2025
Upper · Passed
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
upper
Mar 10, 2025
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Mar 10, 2025
Introduced
Introduced in Senate
upper
1 primary · 4 co-sponsors
Sponsors
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