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The GENIUS Act has officially passed the U.S. Senate with a 68–30 vote, advancing the landmark legislation to the House of Representatives for a final vote before it can be signed into law by President Trump.
The bill, which has garnered significant bipartisan backing, outlines a comprehensive regulatory framework for the adoption of stablecoins and tokenized assets.
If passed into law, the GENIUS Act would enable U.S. institutions and banks to integrate regulated stablecoins into their financial systems.
GENIUS Act could pass US House vote in coming weeks
Proponents argue that the integration of stablecoins into the U.S. economy could unlock billions of dollars in demand for U.S. treasuries, as cryptocurrency users and global payment firms increasingly rely on stablecoins for cross-border transactions.
In addition to enhancing treasury demand, the act is expected to support U.S. debt alleviation strategies and foster innovation in digital asset technologies.
Financial institutions, including Santander, HSBC, JPMorgan, and Standard Chartered, are already exploring stablecoin applications. Notably, Standard Chartered is developing a Hong Kong stablecoin in partnership with Animoca Brands.
On the blockchain side, networks such as Hedera Hashgraph, Ripple’s XRP Ledger, and Cardano are accelerating their stablecoin initiatives. Ripple’s RLUSD, launched in late 2024, is positioned to play a key role in the tokenized asset landscape as Ripple Payments expands globally.
Senator Bill Hagerty, a leading advocate for the legislation, has emphasized the strategic importance of stablecoins. He stated:
“This bill will cement U.S. dollar dominance, protect consumers, increase demand for U.S. treasuries, and ensure that innovation in the digital asset space remains in the hands of the United States—not our adversaries.”
Web3 leaders prepare for stablecoin summer
Crypto Czar Davis Sacks and Senator Hagerty have both celebrated the Senate vote on social media, as the crypto industry prepares for regulatory clarity and institutional adoption.
The stablecoin market continues to show strong growth. According to RWA.xyz, the total value of stablecoins has reached $238.14 billion, reflecting a 2.71% increase over the past 30 days.
With momentum building, the GENIUS Act is widely expected to pass the House, setting the stage for a transformative shift in the U.S. financial system.
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
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