Overview

• The GENIUS Act requires stablecoins to maintain full liquid reserves, publish monthly disclosures of their holdings and comply with anti-money laundering standards.
• The Office of the Comptroller of the Currency and other federal agencies gain authority to supervise stablecoin issuers and issue implementing regulations within six months.
• Congress approved the measure with bipartisan support following a 68-30 Senate vote in June and a 308-122 House vote on July 15.
• Crypto industry leaders and executives attended the White House signing, hailing the law as a milestone for mainstream digital-asset integration.
• Critics including Rep. Maxine Waters warn of conflicts of interest linked to the Trump family’s crypto ventures, and companion bills on market structure and CBDC restrictions await Senate action.