Senate Passes GENIUS Act to Regulate U.S. Stablecoins
Introduction On June 17, 2025, the U.S. Senate passed the GENIUS Act, a landmark bipartisan bill aimed at regulating stablecoins—cryptocurrencies pegged to traditional assets. With a 68–30 vote, the legislation introduces monthly disclosures, full reserve backing, and consumer protections. Policy Background Stablecoins have surged in popularity, offering fast, digital versions of cash. However, incidents like…