GENIUS steblecoin act, after approval by the Senate Banking Committee, now awaits approval by the full Senate, while another stablecoin bill is being worked on in the House, with both versions expected to be eventually merged

Event date

Mar 13, 2025 - 12:00am

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With its first committee approval, the bill that would regulate U.S. stablecoin issuers at the federal level now needs passage by the overall Senate, and a similar version also awaits approval in the House of Representatives. While a number of hurdles remain, including an eventual melding of the different bills from each chamber, the committee advanced the bill with a 18-6 vote.

Work is also underway in the House to regulate stablecoins. Though the GENIUS Act is not a companion to the House's version, lawmakers say it shows an effort among Republicans to work on key issues.