The GENIUS Act, which was signed into law by President Trump on July 18, establishes an initial regulatory framework for stablecoins. - 21 July 2025

On July 17, the U.S. House of Representatives passed a pair of significant financial bills, drawing a cornucopia of reactions from Congress members and impacted trade and advocacy groups. The bills in question were the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act and the Anti-CBDC Surveillance State Act. The GENIUS Act was then signed into law on Friday July 18 by President Donald Trump. Unsurprisingly given the current political climate, reaction to both bills was fairly heated.

GENIUS Act. The GENIUS Act purports to establish an initial regulatory framework for stablecoins, with aims of protecting consumers and strengthening national security. It was co-sponsored in the Senate by Republicans Tim Scott (R-S.C.), Bill Haggerty (R-Tenn.) and Cynthia Lummis (R-Wyo.) as well as Democrats Kirsten Gillibrand (D-N.Y.) and Angela Alsobrooks (D-Md.). Senator Scott termed the bill’s passage “a major milestone” and stated that he looks “forward to taking a similar approach to get digital asset market structure legislation signed into law.”

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