Lawmakers think stablecoins are GENIUS: Inside the new US stablecoin bill

The US Senate’s Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is poised to become the first comprehensive federal framework for payment stablecoins, digital tokens pegged to a fixed value (usually $1) and redeemable on demand. In June 2025, the GENIUS Act cleared a key Senate procedural hurdle with bipartisan support (68–30) after weeks of intense debate.

The bill has drawn praise and fire: proponents tout it as a historic step to modernize payments and cement US dollar dominance in crypto finance, while critics warn of loopholes and potential corruption tied to the Trump administration’s crypto ventures.

CryptoSlate examines the GENIUS Act’s proposed actions, from issuer requirements and reserve mandates to oversight of foreign stablecoins, and analyzes its broader implications for investors, regulators, and the crypto market.