To improve the bill.
Latest action: SA 2311 fell when SA 2310 withdrawn.
Introduced: May 1, 2025
Latest action date: Jul 18, 2025
Latest development
Became Public Law No: 119-27.
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Status detail: Congress.gov records that the measure became law.
Plain-language overview
Guiding and Establishing National Innovation for U.S. Stablecoins Act or the GENIUS Act
This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value).
Under the bill, only permitted issuers may issue a payment stablecoin for use by U.S. persons, subject to certain exceptions and safe harbors. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state regulator. Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less.
Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves.
The bill specifies requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers.
The bill allows foreign issuers of stablecoins to offer, sell, or make available in the United States stablecoins using digital asset service providers, subject to requirements, including a determination by the Department of Treasury that they are subject to comparable foreign regulations.
Under the bill, permitted payment stablecoins are not considered securities under securities law. However, permitted issuers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.
Official summary from Congress.gov.
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Official CRS policy area
Finance and Financial Sector
Committees and subcommittees that received, reviewed, marked up, or reported this legislation.
No committee relationships are listed for this measure.
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
Latest action: SA 2311 fell when SA 2310 withdrawn.
Latest action: Proposed amendment SA 2310 withdrawn in Senate.
Latest action: SA 2309 fell when SA 2308 withdrawn.
Latest action: Proposed amendment SA 2308 withdrawn in Senate.
Latest action: Amendment SA 2307 agreed to in Senate by Yea-Nay Vote. 67 - 30. Record Vote Number: 311.
Latest action: SA 2314 fell when SA 2313 fell.
Latest action: SA 2313 fell when SA 2312 fell.
Latest action: SA 2312 (the instructions of the motion to commit) fell when cloture was invoked on amendment SA 2307.
Latest action: SA 2278 fell when SA 2228 withdrawn.
Latest action: Proposed amendment SA 2228 withdrawn in Senate.
Checked against Congress.gov Oct 9, 2026.
Newest action first. Action language comes from the official Congress.gov record.
Became Public Law No: 119-27.
Became Public Law No: 119-27.
Signed by President.
Signed by President.
Motion to reconsider laid on the table Agreed to without objection.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200).
On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200). (text: CR H3405-3418)
Considered as unfinished business. (consideration: CR H3449-3450)
POSTPONED PROCEEDINGS - At the conclusion of debate on S. 1582, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
The previous question was ordered pursuant to the rule.
DEBATE - The House proceeded with one hour of debate on S. 1582.
Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
Considered under the provisions of rule H. Res. 580. (consideration: CR H3405-3427)
Presented to President.
Presented to President.
Rule H. Res. 580 passed House.
Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
Held at the desk.
Received in the House.
Message on Senate action sent to the House.
Passed Senate with an amendment by Yea-Nay Vote. 68 - 30. Record Vote Number: 318. (text: CR S3419-3432)
Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 68 - 30. Record Vote Number: 318.
Considered by Senate. (consideration: CR S3418-3432)
Considered by Senate. (consideration: CR S3366-3367)
Cloture on the bill, as amended invoked in Senate by Yea-Nay Vote. 67 - 27. Record Vote Number: 312.
Motion by Senator Thune to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with the following amendment (SA 2312) fell when cloture was invoked on amendment SA 2307 in Senate.
Considered by Senate. (consideration: CR S3335-3336)
Cloture motion on the bill presented in Senate. (CR S3276)
Motion by Senator Thune to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with the following amendment (SA 2312) made in Senate.
Considered by Senate. (consideration: CR S3275-3277)
Considered by Senate. (consideration: CR S3155-3156)
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 69 - 31. Record Vote Number: 263.
Motion to proceed to measure considered in Senate. (CR S3017)
Measure laid before Senate by motion. (consideration: CR S3025)
Motion to proceed to measure considered in Senate. (CR S2983)
Motion by Senator Thune to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 240) rendered moot in Senate.
Cloture motion on the motion to proceed rendered moot in Senate.
Second cloture motion on the motion to proceed invoked in Senate by Yea-Nay Vote. 66 - 32. Record Vote Number: 262. (CR S2965)
Second cloture motion on the motion to proceed presented in Senate. (CR S2947)
Motion to proceed to consideration of measure made in Senate.
Motion to proceed to consideration of measure made in Senate. (CR S2847)
Motion to proceed to consideration of measure made in Senate. (CR S2814)
Motion by Senator Thune to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 240) made in Senate.
Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 48 - 49. Record Vote Number: 240. (CR S2823)
Cloture motion on the motion to proceed to the measure presented in Senate. (CR S2772)
Motion to proceed to consideration of measure made in Senate. (CR S2772)
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 66.
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Introduced in Senate
Recorded House and Senate votes connected to this bill. Your representatives appear first when available.
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