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ARTICLE · 31 JULY 2025

A New Era For The Stablecoin Industry: The GENIUS Act

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The U.S. House of Representatives passed the GENIUS Act on July 17, clearing it to be signed into law by President Donald J. Trump on July 18.

United StatesTechnology
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Key Takeaways

  • The U.S. House of Representatives passed the GENIUS Act on July 17, clearing it to be signed into law by President Donald J. Trump on July 18. The GENIUS Act is historic legislation that will shape the stablecoin industry's growth in the United States and beyond.
  • The GENIUS Act allows a permitted payment stablecoin issuer (PPSI) to issue "payment stablecoins," which are non-interest-bearing stablecoins used as a means of payment or settlement. PPSI status is granted through a bank subsidiary, application to the Office of the Comptroller of the Currency (OCC) (for nonbanks) or a state regulator.
  • The GENIUS Act includes consumer protection provisions, such as requirements that PPSIs disclose details about their reserves and redemption policies and that they maintain one-to-one U.S. dollar (USD)-equivalent liquid reserves backing their stablecoins.

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