The US Senate will take a critical step toward stablecoin regulation next Tuesday, June 17, with a final vote on the GENIUS Act.
The legislation, which advanced Wednesday, establishes a federal framework for stablecoins, mandating:
- Full reserve backing (USD or liquid assets)
- Annual audits for issuers exceeding $50B in market cap
- Compliance standards for foreign-based issuers
Senate Democrats confirmed the vote date but noted timing details will follow. If passed, the bill moves to the House, where the competing STABLE Act is also under consideration.
