GENIUS Act

Summary

Guiding and Establishing National Innovation for U.S. Stablecoins Act or the GENIUS Act This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value). Under the bill, only permitted issuers may issue a payment stablecoin for use by U.S. persons, subject to certain exceptions and safe harbors. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state regulator. Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less. Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves. The bill specifies requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers. The bill allows foreign issuers of stablecoins to offer, sell, or make available in the United States stablecoins using digital asset service providers, subject to requirements, including a determination by the Department of Treasury that they are subject to comparable foreign regulations. Under the bill, permitted payment stablecoins are not considered securities under securities law. However, permitted issuers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.

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Timeline

1. 1 May 2025

   Introduced

   Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

   Source: Calendars

2. 1 May 2025

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 5 May 2025

   Calendars

   Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 66.

   Source: Calendars

4. 6 May 2025

   Floor

   Motion to proceed to consideration of measure made in Senate. (CR S2772)

   Source: Floor

5. 8 May 2025

   Floor

   Motion to proceed to consideration of measure made in Senate. (CR S2814)

   Source: Floor

6. 12 May 2025

   Floor

   Motion to proceed to consideration of measure made in Senate. (CR S2847)

   Source: Floor

7. 15 May 2025

   Floor

   Motion to proceed to consideration of measure made in Senate.

   Source: Floor

8. 19 May 2025

   Vote

   Second cloture motion on the motion to proceed invoked in Senate by Yea-Nay Vote. 66 - 32. Record Vote Number: 262. (CR S2965)

   Source: Floor

9. 20 May 2025

   Floor

   Motion to proceed to measure considered in Senate. (CR S2983)

   Source: Floor

10. 21 May 2025

    Floor

    Motion to proceed to measure considered in Senate. (CR S3017)

    Source: Floor

11. 2 June 2025

    Floor

    Considered by Senate. (consideration: CR S3155-3156)

    Source: Floor

12. 9 June 2025

    Floor

    Considered by Senate. (consideration: CR S3275-3277)

    Source: Floor

13. 11 June 2025

    Floor

    Considered by Senate. (consideration: CR S3335-3336)

    Source: Floor

14. 12 June 2025

    Floor

    Considered by Senate. (consideration: CR S3366-3367)

    Source: Floor

15. 17 June 2025

    Vote

    Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 68 - 30. Record Vote Number: 318.

    Source: Floor

16. 17 June 2025

    Floor

    Considered by Senate. (consideration: CR S3418-3432)

    Source: Floor

17. 23 June 2025

    Floor

    Held at the desk.

    Source: Floor

18. 23 June 2025

    Floor

    Received in the House.

    Source: Floor

19. 23 June 2025

    Floor

    Message on Senate action sent to the House.

    Source: Floor

20. 15 July 2025

    Reported

    Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.

    Source: Floor

21. 16 July 2025

    Passed

    Rule H. Res. 580 passed House.

    Source: Floor

22. 17 July 2025

    Floor

    Presented to President.

    Source: Floor

23. 17 July 2025

    President

    Presented to President.

    Source: President

24. 17 July 2025

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

25. 17 July 2025

    Vote

    On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200). (text: CR H3405-3418)

    Source: Floor

26. 17 July 2025

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200).

    Source: Floor

27. 17 July 2025

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

28. 17 July 2025

    Floor

    Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.

    Source: Floor

29. 17 July 2025

    Floor

    Considered under the provisions of rule H. Res. 580. (consideration: CR H3405-3427)

    Source: Floor

30. 18 July 2025

    Became law

    Became Public Law No: 119-27.

    Source: President

31. 18 July 2025

    Became law

    Signed by President.

    Source: BecameLaw

32. 18 July 2025

    President

    Signed by President.

    Source: President

Votes

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

6 official files

• Enrolled Bill

  Enrolled Bill · EN

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• Public Law

  Public Law · EN · 19 July 2025

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• Public Law

  summary · EN · 18 July 2025

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• Engrossed in Senate

  Engrossed in Senate · EN · 17 June 2025

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• Placed on Calendar Senate

  Placed on Calendar Senate · EN · 5 May 2025

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• Introduced in Senate

  summary · EN · 1 May 2025

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Sponsors

• Sen. Hagerty, Bill [R-TN] · R · Sponsor
• Sen. Lummis, Cynthia M. [R-WY] · R · Sponsor
• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Sullivan, Dan [R-AK] · R · Cosponsor
• Sen. Moreno, Bernie [R-OH] · R · Cosponsor
• Sen. Ricketts, Pete [R-NE] · R · Cosponsor

Related records

• related to ← Providing for consideration of the bill (H.R. 4016) making appropriations for the Department of Defense for the fiscal year ending September 30, 2026, and for other purposes; providing for consideration of the bill (H.R. 3633) to provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes; providing for consideration of the bill (H.R. 1919) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; providing for consideration of the bill (S. 1582) to provide for the regulation of payment stablecoins, and for other purposes; and waiving a requirement of clause 6(a) of rule XIII with respect to consideration of certain resolutions reported from the Committee on Rules.
• amends ← SAMDT 2224
• amends ← SAMDT 2225
• amends ← SAMDT 2226
• amends ← SAMDT 2229
• amends ← To provide for expedited certification of existing regulatory regimes.
• amends ← SAMDT 2230
• amends ← SAMDT 2231

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