Stablecoin Legislation: GENIUS Act of 2025
An Overview of S. 1582
On July 17, 2025, the House passed S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, or GENIUS Act, a vote of 308 to 122, without amendment. The bill establishes a regime to regulate U.S. payment stablecoins. Requirements for Issuing Payment Stablecoins S. 1582 defines payment stablecoin as a digital asset issued for payment or settlement and redeemable at a predetermined fixed amount (e.g., $1). Issuers are required to hold at least one dollar of permitted reserves for every one dollar of stablecoins issued. The bill limits permitted reserves to coins and currency, deposits held…
