The U.S. House of Representatives has passed the GENIUS Act, sending the long-anticipated stablecoin regulation bill to President Donald Trump for final approval. With a decisive 308–122 vote, the bill establishes federal oversight for U.S. dollar–pegged stablecoins, requiring them to be fully backed by liquid assets such as cash and short-term Treasury securities.
Under the new legislation, stablecoin issuers must provide monthly disclosures detailing their reserve composition. Lawmakers emphasized that the measure is designed to enhance transparency, ensure financial stability, and protect users in a rapidly expanding sector of the digital asset market.
According to Senator Bill Hagerty, the bill’s sponsor, the GENIUS Act will strengthen the role of the U.S. dollar in global finance and modernize payment systems nationwide. He expressed confidence that the law will drive demand for U.S. Treasuries and help solidify the United States’ position as a hub for cryptocurrency innovation.
Crypto Regulation Gains Momentum as Two More Bills Pass House
Alongside the GENIUS Act, House members also approved two additional crypto-related bills that aim to reshape regulatory oversight. The Clarity Act, passed with a 294–134 vote, introduces new criteria for classifying digital assets as either securities or commodities. This change would clarify which agency, the SEC or CFTC, is responsible for oversight in each case.
The bill addresses longstanding concerns from crypto companies, many of whom argue that current SEC policies have stifled innovation and created legal ambiguity. Its passage represents a significant win for the industry, though some Democrats voiced opposition, citing potential conflicts linked to President Trump’s crypto interests.
In another vote, lawmakers advanced a bill that blocks the issuance of a U.S. central bank digital currency. Supporters of the ban raised concerns about digital surveillance and privacy. Though the Federal Reserve has researched CBDCs, no active rollout plans are underway. President Trump had previously issued an executive order prohibiting the development of a digital dollar.
GENIUS Act Signals Regulatory Shift for Stablecoins
With the GENIUS Act now heading to the President’s desk, stablecoin oversight is poised to become federal law. The legislation is seen as a critical response to the growing importance of stablecoins, which have reached a combined market value of more than $262 billion.
The bill aims to reduce risk in the broader crypto ecosystem by enforcing stricter asset backing and transparency rules. While the Clarity Act and CBDC ban still await Senate approval, the GENIUS Act marks a significant milestone in establishing regulatory certainty for digital assets.
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