The Senate has passed the GENIUS Act, setting federal standards for Stablecoins and laying the groundwork for broader cryptocurrency regulation. This bipartisan move signals a shift toward reining in digital currencies and big tech’s influence in the sector.
Key Facts:
- The Senate passed the GENIUS Act in a 68-30 vote on Tuesday night.
- This marks the second attempt after initial Democratic opposition and calls for further reforms.
- The legislation sets high regulatory standards for Stablecoin issuers in the U.S.
- Supporters say the bill limits big tech overreach and strengthens crypto safety.
- The bill now heads to the House before reaching President Donald Trump’s desk.
The Rest of The Story:
The Senate approved the GENIUS Act on its second try, overcoming previous objections from Senate Democrats and some Republicans.
The bill, which aims to regulate Stablecoins—a form of cryptocurrency pegged to the U.S. dollar—passed with strong bipartisan support.
Sen. Mark Warner, an early backer of the bill, said the legislation “limits big tech overreach” and “creates a better and safer framework for cryptocurrency in the U.S.”
The bill initially failed last month when Senate Democrats and three Republicans blocked it, citing a need for further reform and time to assess its implications.
Now with a decisive 68-30 vote, the bill has new momentum but must still clear the House and secure President Trump’s signature before becoming law.
Chairman @SenatorTimScott joined @MariaBartiromo to highlight how the GENIUS Act – which creates a regulatory framework for stablecoins – will enable faster, cheaper, and more competitive transactions.
Passing the GENIUS Act is a win for the U.S. economy. pic.twitter.com/5veLteh8Mj
— U.S. Senate Banking Committee GOP (@BankingGOP) June 13, 2025
Commentary:
This bill could be a game changer for commerce in America.
By putting clear standards in place, it lays the groundwork for responsible innovation and safer crypto transactions.
The lack of regulation in the cryptocurrency space has long been a concern.
With Stablecoins becoming more mainstream, the GENIUS Act addresses a critical gap in oversight.
Big tech companies have increasingly tried to control digital payments and currencies.
This bill pushes back against that trend, protecting financial markets and user data alike.
It also creates an opening for smaller financial institutions to compete without being crushed by Silicon Valley giants.
Supporters from both parties recognized that crypto’s rise is inevitable.
The GENIUS Act doesn’t stifle innovation—it enables it within secure, lawful boundaries.
The Bottom Line:
The Senate’s passage of the GENIUS Act is a major milestone in cryptocurrency regulation.
By focusing on Stablecoins, it tackles a key area of digital finance while also curbing big tech’s influence.
If it clears the House and gains President Trump’s signature, the bill could shape the future of U.S. commerce and digital currencies for years to come.
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