GENIUS Act of 2025
Mar 10, 2025
Very Pro Crypto
This bill, known as the GENIUS Act of 2025, establishes a comprehensive regulatory framework for payment stablecoins in the United States. It defines payment stablecoins, outlines requirements for issuers including 1:1 asset backing, and clarifies that such stablecoins are not to be classified as securities or commodities. The legislation creates a dual chartering system for state-level and federal non-bank entities, detailing supervision, enforcement, and insolvency procedures to protect consumers.
Current Status
This bill is currently in the legislative process and has not yet been passed into law.Analysis
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Votes
For
Against
Total
0
0
(D)
0
0
(R)
0
0
Sponsor
A
Bill Hagerty(R) Senator
Cosponsors (4)
A
Angela Alsobrooks(D) Senator
A
Tim Scott(R) Senator
A
Cynthia Lummis(R) Senator
A
Kirsten Gillibrand(D) Senator
Voted For (0)
No votesVoted Against (0)
No votes