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ARTICLE · 04 JULY 2025

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Overview And Analysis Of The GENIUS Act

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This bulletin summarizes the key provisions of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) (the "GENIUS Act"), an U.S. federal bill establishing...

CanadaFinance and Banking
Jerry Zi Yi Huang
Jerry Zi Yi Huang
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I. Introduction

This bulletin summarizes the key provisions of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) (the "GENIUS Act"), an U.S. federal bill establishing the first comprehensive regulatory framework for the issuance and supervision of payment stablecoins in the U.S. The legislation introduces a tiered oversight model, codifies prudential standards, and confirms that payment stablecoins are not to be treated as securities or deposit liabilities.

II. Legislative Context and Outlook

On June 17, 2025, the U.S. Senate passed the GENIUS Act with a bipartisan vote of 68–30, signaling broad political support for stablecoin legislation. The GENIUS Act now proceeds to the U.S. House of Representatives, which is concurrently advancing its own bill—the STABLE Act (Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025).

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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