On June 18, 2025, the U.S. Senate approved the GENIUS Act, establishing a regulatory framework for stablecoins and facilitating investment in digital assets.
Overview of the GENIUS Act
The GENIUS Act was approved by a vote of 68 to 30, aimed at providing regulatory clarity for payment stablecoins, promoting innovation and enhancing market stability.
Bipartisan Support and Implications
The bill received bipartisan backing, indicating a unified stance on strengthening the U.S. position in digital innovation. Key supporters include President Trump and Senate Banking Committee Chairman Tim Scott, who emphasize the need for leadership in cryptocurrency regulation.
Comparison with EU's MiCA Regulation
The GENIUS Act mirrors the EU's MiCA regulation, which has previously encouraged stablecoin adoption and laid the groundwork for institutional participation in the field.
The passage of the GENIUS Act opens new avenues for the development of the stablecoin market in the U.S., potentially positively impacting the investment climate for digital assets.
