Latest update on the Genius bill

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U.S stable coin GENIUS bill, according to the May 15th 2025 proposal, assigns the Treasury Secretary discretion to determine whether foreign-issued stablecoins may circulate in the United States, not mitigating core worries about non-U.S. tokens such as Tether

U.S stable coin GENIUS bill, according to the May 15th 2025 proposal, establishes that any public company not predominantly engaged in financial activities must secure a unanimous vote from the Stablecoin Certification Review Committee before issuing a payment stablecoin

U.S stable coin GENIUS bill, according to the May 15th 2025 proposal, arguably retains a loophole because its restrictions to issue stablecoins without explicit approval cover only public companies, permitting private platforms like X and TikTok to launch stablecoins outside this safeguard

U.S stable coin GENIUS bill, according to the May 15th 2025 proposal, does not address the risk of stablecoin de-pegging merely by directing regulators to study insolvency implications within three years, without providing FDIC-like customer protections

U.S stable coin GENIUS bill, according to the May 15th 2025 proposal, fails to prohibit President Donald Trump from personally benefiting from crypto ventures that his administration would regulate, leaving conflict-of-interest concerns unresolved

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