Congress·Enacted·S. 1582

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

GENIUS Act

8 months ago·View on Congress.gov

✓

Signed Into Law

This legislation has been enacted.

Legislative Progress

✓ Senate

68–30

✓ House

308–122

✓ President

✓ Law

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.
From policy text
“To provide for the regulation of payment stablecoins, and for other purposes.”
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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.
From policy text
“maintain identifiable reserves backing the outstanding payment stablecoins of the permitted payment stablecoin issuer on an at least 1 to 1 basis”
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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.
From policy text
“the claim of a person holding payment stablecoins issued by the permitted payment stablecoin issuer shall have priority, on a ratable basis with the claims of other persons holding such payment stablecoins, over the claims of the permitted payment stablecoin issuer and any other holder of claims against the permitted payment stablecoin issuer, with respect to required payment stablecoin reserves”
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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.
From policy text
“A permitted payment stablecoin issuer shall be treated as a financial institution for purposes of the Bank Secrecy Act, and as such, shall be subject to all Federal laws applicable to a financial institution located in the United States relating to economic sanctions, prevention of money laundering, customer identification, and due diligence”
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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.
From policy text
“No permitted payment stablecoin issuer or foreign payment stablecoin issuer shall pay the holder of any payment stablecoin any form of interest or yield (whether in cash, tokens, or other consideration) solely in connection with the holding, use, or retention of such payment stablecoin.”
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Economy FinanceTechnology DigitalCriminal Justice

Impact Analysis

Personal Impact

Who is affectedScoreImpactCertaintyScopeDurationSentiment

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

State Impacts

StateScoreImpactCertaintyScopeDurationSentiment

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

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

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

Democrat

16 – 28 · 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.

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.

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PYMNTS·24 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.

Related Bills

1 bill

H.Res. 580Procedurally related

Providing for consideration of the bill (H.R. 4016) making appropriations for the Department of Defense for the fiscal year ending September 30, 2026, and for other purposes; providing for consideration of the bill (H.R. 3633) to provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes; providing for consideration of the bill (H.R. 1919) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; providing for consideration of the bill (S. 1582) to provide for the regulation of payment stablecoins, and for other purposes; and waiving a requirement of clause 6(a) of rule XIII with respect to consideration of certain resolutions reported from the Committee on Rules.

Jul 16 — On agreeing to the resolution Agreed to by recorded vote: 217 - 212 (Roll no. 198).