Overview

• The House approved the GENIUS Act on July 17 by a 308-122 vote, completing congressional passage after Senate approval in June.
• President Trump will sign the bill in a White House ceremony Friday afternoon, formally enacting the first U.S. law to regulate dollar-backed stablecoins.
• Issuers must be approved by federal or state regulators and fully back each token one-to-one with U.S. dollars, Treasuries or overnight repurchase agreements.
• By embedding stablecoins alongside the dollar and Treasury bonds, the act is designed to speed up payments, create structural demand for government debt and strengthen the dollar’s international role.
• Regulators will have 180 days after enactment to propose rules covering issuer licensing, reserve audits and consumer safeguards.