GENIUS Act Clears Senate, Setting Stage for First U.S. Crypto Law

In a major turning point for digital asset legislation, the U.S. Senate has officially passed the GENIUS Act, a bill aimed at regulating stablecoins and laying the groundwork for broader crypto oversight.

Backed by bipartisan support, the bill now heads to the House of Representatives—one step away from landing on President Donald Trump’s desk.

The legislation, which mandates full 1:1 backing of stablecoins with cash or short-term Treasuries, seeks to bring clarity and credibility to a market projected to exceed $3.7 trillion in value by 2030. Treasury Secretary Scott Bessent recently underscored the bill’s importance, citing its potential to drive demand for U.S. debt and reinforce dollar supremacy in the digital era.

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Senator Bill Hagerty, who spearheaded the measure, called it a defining moment for America’s position in the crypto economy, emphasizing that the framework will attract innovation while keeping it on U.S. soil. Echoing his remarks, Senator Cynthia Lummis praised the act for safeguarding dollar dominance in an increasingly tokenized financial world.

With the Senate’s approval secured, the GENIUS Act could soon become the first piece of comprehensive crypto legislation in U.S. history—reshaping how stablecoins are regulated and potentially anchoring the next wave of digital finance under American leadership.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.