US EditionSenate Passes Stablecoin Bill in Big Win for Crypto Industry
UNITED STATES, JUN 17 – The GENIUS Act sets the first federal rules for stablecoins, requiring full reserve backing, transparency, and consumer protections in a 68-30 Senate vote.
- On Tuesday, the U.S. Senate approved the GENIUS Act, establishing the first federal regulations for stablecoins pegged to the U.S. dollar.
- This milestone bill emerged after years of stalled legislation and amid concerns over Trump's ties to the crypto industry and potential conflicts of interest.
- The GENIUS Act requires stablecoin issuers to maintain full reserve backing, undergo monthly audits, disclose reserves monthly, and follow strict anti-money laundering rules.
- The bill passed 68-30 with bipartisan support, and Circle's shares surged 20% following the vote, signaling strong market enthusiasm for stablecoin regulation.
- The legislation marks a major step to integrate digital assets into mainstream finance, though critics like Sen. Merkley denounce it as enabling corruption tied to Trump’s crypto dealings.
228 Articles
228 Articles
New Crypto Bill Will “Unleash Chaos,” Warns Economist
The Senate recently passed the Genius Act. This bill establishes regulatory frameworks for the stablecoin, a cryptocurrency that will hold the same value as the US dollar. For the digital assets industry, the move is a historic milestone. But Barry Eichengreen, Professor of Economics and Politics at U.C. Berkeley, warns that the Genius Act could bring economic chaos. He joins the show to explain.
TRIBUNE. The US president is a protector of cryptoactives. But the choice of a monetary system is not only technical, it is political, argues economist Natacha Vallas, in a forum in the "World".
GENIUS Or Not? Senate Passes Major Cryptocurrency Law
By George Caldwell, The Daily Signal | June 17, 2025 The Senate on Tuesday afternoon passed the GENIUS Act, which would standardize regulations for a growing cryptocurrency market, stablecoins. The bill passed on a bipartisan 68-30 vote. GENIUS Act proponents say it will save money for American businesses and boost the dollar’s value, but opponents call it a “weak bill” that would risk financial stability and Americans’ privacy.Here’s what the b…
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