The U.S. Senate officially passed the GENIUS stablecoin bill, and the next step is to pass the final vote in the House.

The U.S. Senate passed the GENIUS Act with a bipartisan vote of 68 in favor and 30 against, establishing the first federal-level regulatory framework for stablecoins, which will be sent to the House of Representatives for consideration in the next step. (Synopsis: Bank of America CEO: is developing its own stablecoin, Tether CEO secretly choked: it's time for a showdown) (Background supplement: South Korea submitted the "Stablecoin Act", allowing domestic companies to issue and must have sufficient reserve assets) The US Senate officially passed the "2025 US Stablecoin National Innovation Guidance and Specification Act" (GENIUS Act) 68 to 30 in the early morning of the 18th Taiwan time, with a market value of more than 2500 The $100 million stablecoin market sets the first set of federal rules of the game, and the bill has now been sent to the House of Representatives for further review, which will determine whether this framework can be officially implemented. High standards of reserves and transparency According to the bill, stablecoins must be one-to-one pegged to the US dollar and fully backed by cash and one-year US Treasuries; Issuers are required to publish monthly reserve breakdowns, and projects with a market capitalization of more than $50 billion must be audited annually. Republican Senator Bill Hagerty of Tennessee said, "With this bill, the United States is one step closer to becoming a global leader in the cryptocurrency space." Amanda Tuminelli, executive director of the DeFi Education Fund, called the development "a milestone step in establishing proper digital asset regulation in the United States." Compliance thresholds and industry repercussions The GENIUS Act only allows licensed institutions to issue stablecoins and includes anti-money laundering and sanctions screening as core obligations. TRM Labs notes that stablecoins already account for more than 60% of overall crypto trading volume, and while it is estimated that 99% of activity is legitimate, the fast-settlement feature also attracts illicit funds. Ji Kim, Acting CEO of the Crypto Council for Innovation, said, "This is a historic step for the digital asset industry." Controversy and subsequent variables Critics, led by Senator Elizabeth Warren, questioned that the bill did not address vulnerabilities in offshore tokens such as USDT, and worried that tech giants could use it to issue their own currencies. The House of Representatives introduced a more comprehensive Digital Asset Market Transparency Act earlier, and how the two bills are integrated has become the focus of industry observation. After the GENIUS Act broke through the Senate, the United States formed a clear blueprint for stablecoin regulation for the first time. The outcome of the next House vote, coordination with other crypto bills, and the attitude of the White House will determine the global competitiveness of the dollar stablecoin. Related reports Bank of America CEO: is developing its own stablecoin, Tether CEO secretly choked: it's time to win Airwallex CEO choked "stablecoins are useless": cross-border fees are higher than fiat currencies; "The U.S. Senate officially passed the GENIUS Stablecoin Act, and the next step is to break through the final vote of the House of Representatives" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".