The US House of Representatives has passed the GENIUS Act, officially sending it to President Trump, who is expected to sign it immediately. The bill received strong bipartisan support, with 306 votes in favor.
This makes the GENIUS Act the first federal cryptocurrency law in US history. It establishes national standards for the issuance and supervision of stablecoins.
GENIUS Act on Stablecoin Regulation Finally Passed
The GENIUS bill requires stablecoin issuers to maintain 100% reserves, undergo periodic audits, and register with federal or state regulators. It also bans Algorithmic Stablecoins without asset backing.
More importantly, it introduces a dual licensing structure—empowering both federal and state agencies to approve and oversee issuers.
Legislators passed the bill with strong bipartisan support. The Senate approved it earlier this month, making today's House vote the final hurdle.
US House Passes GENIUS Act on StablecoinThe Trump administration helped negotiate the deal during this week's political confrontation. The law was passed shortly after the CLARITY Act was passed in the House.
With Trump's signature expected today, the law will take effect in 2026. Agencies like the Fed and OCC will draft implementation rules.
For the cryptocurrency industry, this is a turning point. Regulated stablecoins in the US now have a legal foundation for development—with safety and transparency measures.
However, critics warn the law may hinder smaller issuers and consolidate larger companies like Circle and PayPal. Privacy advocates are also concerned about surveillance risks.
Nevertheless, the GENIUS Act now creates a regulatory framework for USD-backed stablecoins—an essential part of widespread cryptocurrency adoption.
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