The US Senate has passed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in a 68 to 30 vote on June 17.
The landmark bill sets the first federal regulations for dollar-pegged stablecoins in America and has been lauded by the crypto industry.
“The GENIUS Act will protect consumers, enable responsible innovation, and safeguard the dominance of the U.S. dollar,” said Senator Kirsten Gillibrand, one of the bill’s sponsors.
Having passed the Senate, the bill still needs to pass the Republican controlled House before it can be made into law.
JUST IN: Senate passes GENIUS Act for federal stablecoin regulation, by a vote of 51-23.
Now moves to the House.
— Bitcoin Laws (@Bitcoin_Laws) June 17, 2025
Greenlight for Stablecoins
The GENIUS Act was introduced by Senator Bill Hagerty in February to regulate the $260 billion stablecoin market. Speaking after the vote on Tuesday, Hagerty said:
“This is going to open the door for innovation in America lik
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