The U.S. Senate passed a milestone stablecoin bill, known as the GENIUS Act, on June 17, 2025. This legislative action is a significant victory for the cryptocurrency industry, which has actively pushed for clearer regulatory frameworks in Washington, D.C. The bill aims to establish the first federal framework for dollar-backed cryptocurrencies, specifically stablecoins.
The GENIUS Act includes provisions for full-reserve requirements and mandates monthly audits for stablecoin issuers. This framework is designed to create a path for private companies to issue regulated digital dollars under the blessing of the U.S. government. The legislation now moves to the House of Representatives, where its passage is viewed as likely before heading to the President's desk.
For companies like Circle, a leading stablecoin issuer, this regulatory clarity is expected to accelerate institutional adoption and solidify their position as compliant leaders. Treasury Secretary Scott Bessent has projected that the market for U.S. stablecoins could grow eightfold to more than $2 trillion in the coming years if this bill is enacted, unlocking substantial demand for U.S. Treasury notes.
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