GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) is legislative progress to set a regulatory framework for stablecoins. At this moment, this bill has had support from both parties in US.
This bill has already passed the Senate Banking Committee. But still it has many obstacles to get over that should pass through the full Senate and House of Representative. It means it still has many unpredictable hurdles and anytime it could face challenges as some Democrats still concern the possibility of the threat to national security.
This bill has the goal to finish by the end of April 2025 as signed by President Trump. But the timeline is so tight so it could be highly likely to be delayed.
If this bill is passed, this would establish the basic foundation for stablecoins' utilization and also whole crypto's real world adoption. The bill contains consumer protections and clarified regulation etc. So it may encourage stablecoins to be adopted to payment area first. Yield bearing stablecoins may be excluded from this bill.
This post is also published on Medium on March 20, 2025, by the same author.
