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Congress·Enacted·8 months ago

Trump Signs GENIUS Act Into Law, Creating First Federal Rules for Stablecoins

Also known as: GENIUS Act

Legislative Progress

✓ Filed
✓ Review
✓ Senate

68–30

✓ House

308–122

✓ President

Impact Analysis

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

State Impacts

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Key Points

  • This policy creates the first major federal rules for "stablecoins," which are digital currencies designed to always be worth exactly one U.S. dollar. The goal is to make sure these digital assets are safe for regular people to use for payments and shopping without worrying about the value suddenly crashing.
  • Companies that issue these digital dollars must now keep enough real cash or safe government bonds to back every single digital coin they sell on a 1-to-1 basis. They are required to prove they have this money by publishing monthly reports that are checked by independent accounting experts to ensure they aren't lying about their reserves.
  • If a stablecoin company goes out of business, the law creates a clear plan to make sure the people holding the digital coins get their money back first. While these coins are still not officially insured by the government like a bank account, this rule provides a safety net for your money if the company fails.
  • To prevent illegal activity, these companies must follow the same "know your customer" and anti-money laundering rules that traditional banks use. This is intended to stop terrorists, cartels, and hackers from using digital currencies to hide or move stolen money.
  • The rules also ban companies from using confusing names that make their coins look like official government money. They are also prohibited from paying interest to people just for holding the coins. Most of these new requirements will start being enforced within the next 18 months.
Economy FinanceTechnology DigitalCriminal Justice

Milestones

25 milestones46 actions
Jul 18, 2025

Became Public Law No: 119-27.

Jul 18, 2025

Signed by President.

Jul 17, 2025House

Presented to President.

Jul 17, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Jul 17, 2025House

On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200). (text: CR H3405-3418)

What Happens Next

Projected impacts based on AI analysis

Approximately January 2027 (18 months after enactment)

The law takes effect and new rules kick in

The earlier of 18 months after enactment or 120 days after regulators issue final rules. Stablecoin issuers must begin complying with reserve, audit, anti-money laundering, and consumer protection requirements. People holding stablecoins gain new legal protections.

Approximately July 2028 (3 years after enactment)

Non-compliant foreign stablecoins get banned from U.S. platforms

Three years after enactment, digital asset platforms can no longer sell stablecoins to Americans unless the issuer is a permitted U.S. issuer or a registered foreign issuer meeting equivalent standards. People holding non-compliant stablecoins may need to redeem or convert them before this deadline.

Approximately July 2026 (1 year after enactment)

Federal regulators must finalize all implementing rules

Within one year of enactment, the OCC, Federal Reserve, FDIC, Treasury, and state regulators must publish the detailed rules that stablecoin issuers will follow. This sets the practical details for how the industry operates going forward.

Vote Results

10 votes
HousePassedPassageJul 17, 2025

On Passage

308
122
Democrat
102 – 110
Republican
206 – 12 · 2
View full roll call
SenateFailedClotureMay 8, 2025

On Cloture on the Motion to Proceed

48
49
Democrat
0 – 44 · 1
Republican
48 – 3 · 2
Independent
0 – 2
View full roll call
SenatePassedClotureMay 19, 2025

On Cloture on the Motion to Proceed

66
32
Democrat
16 – 28 · 1
Republican
50 – 2 · 1
Independent
0 – 2
View full roll call
SenatePassedProceduralMay 21, 2025

On the Motion to Proceed

69
31
Democrat
18 – 27
Republican
51 – 2
Independent
0 – 2
View full roll call
SenatePassedClotureJun 11, 2025

On the Cloture Motion

68
30
Democrat
18 – 26 · 1
Republican
50 – 2 · 1
Independent
0 – 2
View full roll call
SenateFailedProceduralJun 12, 2025

On the Motion to Table

To improve the bill.

45
52
Democrat
42 – 0 · 3
Republican
1 – 52
Independent
2 – 0
View full roll call
SenatePassedJun 12, 2025

On the Motion

In the nature of a substitute.

64
33
Democrat
13 – 29 · 3
Republican
51 – 2
Independent
0 – 2
View full roll call
SenatePassedAmendmentJun 12, 2025

On the Amendment

In the nature of a substitute.

67
30
Democrat
16 – 26 · 3
Republican
51 – 2
Independent
0 – 2
View full roll call
SenatePassedClotureJun 12, 2025

On the Cloture Motion

67
27
Democrat
16 – 25 · 4
Republican
51 – 2
Independent
0 – 0 · 2
View full roll call
SenatePassedPassageJun 17, 2025

On Passage of the Bill

68
30
Democrat
18 – 26 · 1
Republican
50 – 2 · 1
Independent
0 – 2
View full roll call

Related News

4 articles
CNBC·8 months ago

President Trump signs GENIUS Act, creating stablecoin regulatory framework

President Trump signed the GENIUS Act into law, establishing the first federal regulatory framework for stablecoins. The law requires 1:1 reserve backing and monthly audits, aiming to provide consumer protections while positioning the U.S. as a leader in digital assets.

C=
CBS News·8 months ago

What are stablecoins, now under some protections by the GENIUS Act?

CBS News reports on the signing of the GENIUS Act, a bipartisan bill that creates consumer safeguards for digital currencies. The legislation mandates that stablecoin issuers hold dollar reserves equivalent to the amount of coins issued, ensuring they can be redeemed 1-for-1.

CL=
PYMNTS·4 days ago

OCC Proposal Aims to Fuel Safe Payment Stablecoin Growth

The OCC has issued a 378-page proposal to implement the GENIUS Act, outlining standards for capital requirements, risk management, and reserve assets. The move marks the first comprehensive effort to bring dollar-backed digital assets under formal federal supervision.

C=

Source Information

Document Type

Congressional Bill

Official Title

GENIUS Act

Bill NumberS 1582
Congress119th Congress
ChamberSenate
Latest ActionBecame Public Law No: 119-27.

Sponsor

Cosponsors

(5)
R: 5

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.