The US House 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 crypto law in US history. It sets national standards for stablecoin issuance and oversight.
GENIUS Act Stablecoin Regulation Finally Passes
The GENIUS bill requires stablecoin issuers to hold 100% reserves, undergo regular audits, and register with federal or state regulators. It also bans unbacked algorithmic stablecoins.
Importantly, it introduces a dual-licensing structure—giving both federal and state authorities power to approve and supervise issuers.
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Lawmakers passed the bill with strong bipartisan support. The Senate approved it earlier this month, making today’s House vote the final hurdle.
President Trump’s administration helped broker the deal during this week’s political standoff. The legislation passed shortly after the CLARITY Act advanced through the House.
With Trump’s signature expected today, the law will take effect in 2026. Agencies like the Fed and OCC will now draft implementation rules.
For the crypto sector, this marks a turning point. US-regulated stablecoins now have a legal foundation to grow—with guardrails for safety and transparency.
However, critics warn the law could stifle smaller issuers and entrench big players like Circle and PayPal. Privacy advocates also raise concerns about surveillance risks.
Even so, the GENIUS Act now forms the regulatory bedrock for US dollar-backed stablecoins—an essential piece for crypto’s broader adoption.
source : https://beincrypto.com