S 394
Genius act of 2025
Genius Act of 2025
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Genius Act of 2025 aims to establish a regulatory framework for payment stablecoins in the United States. It specifies that only certain entities – subsidiaries of insured depository institutions, federal-qualified nonbank payment stablecoin issuers, or state-qualified payment stablecoin issuers – can issue these digital assets. The bill mandates reserves backing the stablecoins, requires public disclosure of redemption policies and reserve details, and outlines requirements for reuse of reserves, safekeeping services, and supervisory authority. It also addresses bankruptcy protections for stablecoin holders and clarifies that stablecoins are not considered securities, while issuers are subject to anti-money laundering regulations.
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