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

Quotes that support claims

According to the bill’s latest draft, “a public company that is not predominantly engaged in 1 or more financial activities” (aka, a Big Tech firm) may only issue a stablecoin if an independent Stablecoin Certification Review Committee finds it will not pose a “material risk” to the U.S. banking system, and the company does not either use stablecoin transaction data to target customers or sell such data to third parties.

But on the concerns over tech giants sprouting with a field of new dollar-based tokens, the bill dealt with it in part: "A public company that is not predominantly engaged in one or more financial activities, and its wholly or majority owned subsidiaries or affiliates, may not issue a payment stablecoin unless the public company obtains a unanimous vote of the Stablecoin Certification Review Committee," according to the latest draft. The committee would be a multi-agency group created under the legislation to look at such requests.