Overview

• President Donald Trump signed the Genius Act on July 18, formally enacting the first U.S. law to regulate stablecoins.
• Issuers must back each token with liquid assets such as dollars or short-term Treasury bills and publish monthly disclosures of their reserves.
• The bill passed the House by 308–122 and had already secured bipartisan approval in the Senate in June.
• Two related measures—the Clarity Act for broader crypto rules and an anti-CBDC proposal—remain under Senate consideration.
• Major firms including Amazon, Walmart, Meta, Uber and Airbnb are preparing stablecoin issuance plans under the new regulatory framework.