Wall Street’s calling it the most ‘genius’ piece of regulation because Dodd-Frank
GENIUS Act clears Senate with bipartisan vote, setting historical path for U.S. crypto guideline.
In a considerable feat for the cryptocurrency market, the U.S. Senate passed the GENIUS Act on June 17 with a vote of 68-30, marking the first major digital asset guideline to pass the upper chamber of Congress. The legislation establishes a federal structure for stablecoin issuance, forecasted to reach a $2 trillion market cap within the next 3 years. A stablecoin is a kind of cryptocurrency that keeps a steady worth with time, equivalent to a fixed quantity of cash. Its value is usually connected to a more steady property, such as the US dollar or gold. GENIUS Act
The GENIUS Act, identifying Guaranteed and Enforceable Neutral Intermediaries for U.S. Stablecoins, develops standards for how business can provide and back their stablecoins.The costs needs companies to hold one-to-one reserves in money or short-term Treasury securities to ensure stability. It also involves stablecoin issuers in verifying these reserves every month. The costs will also supply securities to consumers and prohibit tech business and government authorities from releasing their tokens while in workplace. Elizabeth Warren (D-Mass.), the ranking member of the Senate Banking Committee, stated on May 19 that she would oppose the GENIUS Act since it would weaken customer safeguards, leaving individuals susceptible to scams and unneeded fees. In the Senate Flooring meeting, she said, “While a strong stablecoin costs is the best possible result, this weak costs is worse than no expense at all.”Her main line of opposition was that the GENIUS Act, which was being voted on, was just days after President Trump hosted a personal dinner and VIP White Home trip for top investors in his meme coin, TRUMP, which she said would further sustain President Trump’s crypto corruption. Quickly after, the bipartisan mediators resolved the ethics, transparency, and nationwide security concerns set within the initial costs, and then 18 Democrats supported the measure. The most notable of them all was Sen. Bill Hagerty (R-Tenn.), who said the “expense will cement U.S. dollar supremacy, it will protect customers, and it will drive demand for U.S. Treasuries.”However, the bill now advances to the GOP-led Home, where its buddy legislation, the STABLE Act, is also acquiring momentum. If both chambers can agree, it would be historical and possibly be the very first total digital property regulation in the United States.Crypto policy capturing up The bill is being commemorated as a significant win for the crypto industry as a whole, and particularly in the United States, where guideline has struggled to equal innovation, especially under the Biden era. According to ChatGPT, the GENIUS act is one of just 3 costs to get more than 60 votes in the Senate this year. https://t.co/OmAcfzGcwp— Matt Hougan (@Matt_Hougan) June 18, 2025Nathan Allman, CEO and Founder of Ondo Financing, told TheStreet Roundtable: “This legislation supplies long-awaited clearness around the treatment of digital assets, laying the foundation for increased institutional involvement. With this clear signal from U.S. policymakers, we expect a surge in self-confidence and engagement from market individuals– both locally and globally– who have been awaiting a structure they can depend on. By establishing a thorough and clear framework, the U.S. is now setting the pace, not simply taking part in the discussion.”Allman believes the GENIUS Act makes a strong statement, comparable to its impact on traditional financial institutions for years, that the U.S. is all set to define the guidelines for the road ahead in digital assets.Sidney Powell, CEO & Co-Founder of Maple Financing said: “The GENIUS Act is a signal that financing is moving onchain. Clear stablecoin guidelines are the catalyst institutional capital has actually been waiting on. With rely on reserves and compliance frameworks now codified, the path is open for asset managers to scale digital capital markets with self-confidence.”Roshan Robert, CEO of OKX U.S. said the GENIUS Act is a strong signal that U.S. legislators are taking a pragmatic method to digital asset innovation. “By targeting stablecoins, one of crypto’s most proven use cases, it develops an important bridge for conventional financing to explore blockchain-powered payments and settlement,” he stated.”We must expect this to stimulate a new age of innovation – not simply more companies, however purpose-built stablecoins designed for real-world financing, from remittances to on-chain settlement. It likewise opens the door for more people to comprehend, learn about, and engage with crypto in a manner that feels accessible and appropriate to their daily lives,” he added.
GENIUS ActThe GENIUS Act, determining Enforceable and surefire Neutral Intermediaries for U.S. Stablecoins, establishes guidelines for how companies can issue and back their stablecoins.The expense requires companies to hold one-to-one reserves in money or short-term Treasury securities to ensure stability. In the Senate Floor conference, she said, “While a strong stablecoin bill is the best possible outcome, this weak bill is worse than no bill at all., who stated the “expense will seal U.S. dollar dominance, it will protect consumers, and it will drive need for U.S. Treasuries.”Nevertheless, the costs now advances to the GOP-led House, where its companion legislation, the STABLE Act, is also getting momentum. According to ChatGPT, the GENIUS act is one of just 3 expenses to get more than 60 votes in the Senate this year.
