GENIUS Act of 2025

Senate Bill

S. 394

119th Congress

GENIUS Act of 2025

In Committee

Introduced:Feb 4, 2025

Primary Sponsor

Bill Hagerty

R - TN

Cosponsors

4

Quick Stats

Policy Area

Finance and Financial Sector

Summary

The GENIUS Act creates a regulatory framework for payment stablecoins. Only permitted issuers can issue stablecoins, with reserves required on a one-to-one basis. Issuers can choose federal or state regulation, with state limited to 10 billion dollars or less in issuance.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Introduced2/4/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

Data from Congress.gov

See this page through your district lens

Enter ZIP to personalize representatives and vote context.

Stay on top of this issue

Subscribe for weekly bill and representative updates.

Vote Prediction

GENIUS Act of 2025

The GENIUS Act creates a regulatory framework for payment stablecoins. Only permitted issuers can issue stablecoins, with reserves required on a one-to-one basis. Issuers can choose federal or state regulation, with state limited to 10 billion dollars or less

Community Breakdown

Pass

0%

Fail

0%

0 predictions

The GENIUS Act creates a regulatory framework for payment stablecoins. Only permitted issuers can issue stablecoins, with reserves required on a one-to-one basis. Issuers can choose federal or state regulation, with state limited to 10 billion dollars or less in issuance.

Bill Number: 394
Introduced: 2/4/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: GENIUS Act of 2025
Bill Number: 394
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 2/4/2025
Summary: The GENIUS Act creates a regulatory framework for payment stablecoins. Only permitted issuers can issue stablecoins, with reserves required on a one-to-one basis. Issuers can choose federal or state regulation, with state limited to 10 billion dollars or less in issuance.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The GENIUS Act creates a regulatory framework for payment stablecoins. Only permitted issuers can issue stablecoins, with reserves required on a one-to-one basis. Issuers can choose federal or state regulation, with state limited to 10 billion dollars or less in issuance.

Last updated: 1/5/2026

Official Summary

Congressional Research Service summary

Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 or the GENIUS Act of 2025 This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed monetary value).Under the bill, only permitted issuers may issue a payment stablecoin in the United States. 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 sets forth requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority.In a bankruptcy insolvency proceeding involving a payment stablecoin issuer, stablecoin holders have priority over all other claims. 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.The Federal Reserve must create and implement agreements with other jurisdictions that similarly regulate stablecoins for the purpose of facilitating international transactions and interoperability with U.S. dollar-denominated stablecoins issued overseas.

Key Points

Main provisions of the bill

Creates regulatory framework for stablecoins
Requires one-to-one reserve backing
Allows federal or state regulation choice
Limits state regulation to 10 billion dollar issuers
Gives stablecoin holders bankruptcy priority

How This Impacts Americans

Potential effects on citizens and communities

Stablecoin issuers would face clear regulatory requirements. Consumers would have protections including reserve requirements and bankruptcy priority. The crypto industry would have regulatory clarity for dollar-backed stablecoins.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

394, 119th Congress (2025). "GENIUS Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-s-394

Public Opinions

Community submissions related to this bill.

Share your opinion

No public opinions yet. Be the first to submit one for this bill.

Related Bills in Finance and Financial Sector

SJRES 127

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Fair Credit Reporting; File Disclosure".

Motion to proceed to consideration of measure rejected in Senate by Voice Vote.

HR 2225

Access to Small Business Investor Capital Act

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban A

S 1381

Protecting Employees and Retirees in Business Bankruptcies Act of 2025

Read twice and referred to the Committee on the Judiciary. (text: CR S2523-2527: 2)

S 780

SAFE Lending Act of 2025

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.