Senate Passes Sweeping Stablecoin Bill, Crypto Regulation Enters New Era

The U.S. Senate overwhelmingly passed the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS) Act with a 68-30 vote, marking a significant milestone in U.S. crypto policy. The bill, which garnered substantial Democratic support, sets guardrails around stablecoin issuers like Circle, Ripple, and Tether, demanding stringent reserve requirements, transparency, anti-money laundering compliance, and new capital rules. While not satisfying all critics, supporters argue inaction is no longer an option given the growing prevalence of stablecoins. The bill's passage represents a step toward the U.S. becoming a global crypto leader, but its fate is intertwined with the House's Digital Asset Market Clarity Act; both bills' passage is crucial for shaping the future of U.S. crypto markets.