Wednesday, 18 June, 2025

Senate Passes GENIUS Act, First U.S. Stablecoin Regulation Amid Trump Conflict Debate

The U.S. Senate passed the GENIUS Act (68–30), establishing the country’s first federal framework for dollar‑pegged stablecoins. The bipartisan bill mandates 1:1 reserves, audits, consumer protections, and oversight—marking a major win for the crypto industry. Key controversies remain, including exclusion of President Trump and his family's crypto interests from conflict-of-interest rules. The bill now advances to the House amid broader crypto regulatory discussions.