Trump signs GENIUS Act, launches first stablecoin law in U.S.

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Mikhail Vnuchkov

19.07.2025

Trump signs GENIUS Act, launches first stablecoin law in U.S. — GENIUS Act passed, U.S. aims for global crypto leadership

President Donald Trump has signed the GENIUS Act into law, declaring that the move will secure the United States’ “global leadership” in crypto technology.

The GENIUS Act provides the U.S. with its first federal regulatory framework for dollar-backed stablecoins.

“Crypto has risen more than any stock. Crypto makes the dollar stronger. Crypto is good for the dollar and for the country,” Trump said after signing the bill.

He added that the GENIUS Act strengthens the nation’s leadership in the sector and promised to pass a broader crypto market structure bill.

Senator Tim Scott, ranking member of the Senate Banking Committee, called the law “regulatory clarity for the stablecoin industry” and said faster and cheaper payments would “reinforce the U.S. dollar’s dominance globally.”

Treasury Secretary Scott Bessent echoed that sentiment, thanking House Republicans for “actions that fulfill the promise” to make America “the crypto capital of the world.”

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“President Trump promised to make America the crypto capital of the world. Today’s passage of the CLARITY Act and the delivery of GENIUS to the president’s desk fulfills that promise,” Bessent wrote on X.

What’s in the GENIUS Act?

According to CryptoSlate, the GENIUS Act creates a federal regulatory framework for issuing and supervising payment stablecoins.

It assigns the Federal Reserve to license and oversee national, insured depository institutions, while also allowing state-chartered institutions to issue dollar-pegged tokens, provided they meet equivalent standards for reserves, disclosures, redemption procedures, and risk controls.

Issuers are required to fully back each token with high-quality liquid assets—such as cash, Treasury bills, or other short-term government securities—and to regularly publish attestation reports.

The law also mandates that bank regulators set examination schedules, guarantees consumers the right to redeem at face value within specified timeframes, and requires that reserve assets be held separately unless customers give explicit consent for rehypothecation.

The House passed the GENIUS Act by a 307–122 vote on July 17, one day after approving a 215–211 motion to reconsider a procedural package combining the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance Act.

The three bills were first bundled on July 16 to fast-track debate in the House, but that resolution did not constitute final legislative text. Committee staff then prepared the GENIUS Act as a standalone bill that both chambers could pass in identical form.

The Senate approved the consolidated version late on July 17, completing the bicameral process required to enroll and send the bill to the White House.

As we wrote, Tether issues $3 biillion in USDT despite GENIUS Act pressure

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