18.06.2025 12:57
The United States Senate has overwhelmingly approved the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act), signaling a significant shift in the regulation of digital finance. This bipartisan victory, achieved with a 68-30 vote, establishes a comprehensive federal framework for stablecoins, paving the way for greater integration of these assets into the broader financial system. The act's passage represents a landmark achievement in the ongoing evolution of the digital currency landscape.
Sponsored by Senator Bill Hagerty and co-sponsored by Senators Tim Scott, Kirsten Gillibrand, and Cynthia Lummis, the GENIUS Act (S. 394) addresses key concerns regarding stablecoin security and transparency. Crucially, it mandates a one-to-one reserve requirement for all fiat-backed stablecoins used in payments, demanding regular audits and monthly compliance checks to ensure solvency. This rigorous approach aims to instill confidence in the market and protect consumers.
Furthermore, the act introduces a licensing requirement for stablecoin issuers, allowing for both federal and state-level regulation. A pivotal aspect of the GENIUS Act is its outright ban on algorithmic stablecoins, those whose value isn't backed by physical reserves but instead relies on complex algorithms. This prohibition directly addresses significant risks associated with this type of asset. To further bolster security, the bill restricts practices like rehypothecation and commingling of funds, thus enhancing the integrity and transparency of stablecoin reserves.
In essence, the GENIUS Act represents a proactive and comprehensive approach to regulating stablecoins, establishing a clear path forward for responsible innovation within the rapidly developing digital finance sector. Its approval underscores a growing national recognition of the potential and necessity for robust regulatory oversight in the cryptocurrency realm, fostering a more secure and transparent financial ecosystem. The Act's success reflects a bipartisan commitment to balancing innovation with responsible financial stewardship.
