18.07.2025 16:11

The House of Representatives overwhelmingly approved the bipartisan GENIUS Act, a significant step towards regulating stablecoins and potentially solidifying the United States' position as a global cryptocurrency leader. This landmark legislation, passing with a 308-122 vote, demonstrates considerable cross-party support for establishing a clear regulatory framework for this burgeoning sector.


This pivotal bill mandates stringent requirements for stablecoin issuers, thereby enhancing consumer protection and bolstering investor confidence. Specifically, the act necessitates full reserve backing using highly liquid U.S. dollar assets like cash and short-term Treasuries. Further, monthly transparency reports detailing reserve composition are mandated, promoting accountability and reducing systemic risk. The legislation also outlines a federal regulatory framework for licensing and supervising stablecoin issuers, providing a much-needed layer of oversight.


The GENIUS Act's passage reflects a proactive response to the rapid growth of the stablecoin market, whose global market capitalization has exceeded $262 billion, with over 70% of on-chain transactions utilizing these digital assets. Lawmakers, recognizing this substantial market influence, deemed decisive action essential to prevent future instability and maintain the U.S. dollar's global prominence in the digital finance arena.


Senator Bill Hagerty, the bill's sponsor, championed the legislation as a crucial measure to modernize the U.S. payment system and safeguard the dollar's dominant position in the evolving landscape of digital finance. The act now heads to the President for approval, potentially ushering in a new era of regulated stablecoin operations within the United States. Its success hinges on presidential sign-off and effective implementation, factors crucial for the bill’s transformative impact on the U.S. cryptocurrency landscape.