3.0.0 394 2025-07-01T11:06:18Z 2025-07-01T11:06:18Z Senate S S 2025-02-04 119 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred To 2025-02-04T20:07:55Z 2025-02-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2025-02-04 Introduced in Senate IntroReferral 10000 9 Library of Congress H000601 Sen. Hagerty, Bill [R-TN] Bill Hagerty R TN N S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2025-02-04 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2025-02-04 True L000571 Sen. Lummis, Cynthia M. [R-WY] Cynthia Lummis R WY M. 2025-02-04 True A000382 Sen. Alsobrooks, Angela D. [D-MD] Angela Alsobrooks D MD 2025-02-20 False Finance and Financial Sector Finance and Financial Sector 2025-03-11T14:03:01Z

00 2025-02-04 Introduced in Senate 2025-06-24T20:40:49Z <p><strong>Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 or the GENIUS Act of 2025 </strong></p><p>This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed monetary value).</p><p>Under the bill, only permitted issuers may issue a payment stablecoin in the United States.&nbsp;Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer.&nbsp;Permitted issuers must be regulated by the appropriate federal or state regulator. Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less.</p><p>Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves.</p><p>The bill sets forth requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority.</p><p>In a bankruptcy insolvency proceeding involving a payment stablecoin issuer, stablecoin holders have priority over all other claims.&nbsp;</p><p>Under the bill, permitted payment stablecoins are not considered securities under securities law.&nbsp;However, permitted issuers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.</p><p>The Federal Reserve must create and implement agreements with other jurisdictions that similarly regulate stablecoins for the purpose of facilitating international transactions and interoperability with U.S. dollar-denominated stablecoins issued overseas.</p>

Display Title 45 2025-03-08T06:38:18Z Short Title(s) as Introduced 101 2025-03-08T06:38:16Z Introduced in Senate IS Short Title(s) as Introduced 101 2025-03-08T06:38:16Z Introduced in Senate IS Official Title as Introduced 6 2025-03-08T06:33:22Z Introduced in Senate IS Introduced in Senate 2025-02-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119s394is/xml/BILLS-119s394is.xml 2025-02-04 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.