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Regulating Stablecoins: New Rules for Issuance and Digital Currency Protection

This law establishes strict regulations for companies issuing payment stablecoins to ensure the financial safety of users and the stability of the system. It mandates that digital currencies be fully backed by liquid assets and provides clear rights for consumers to redeem them for cash.
Key points
Mandatory 1:1 reserve backing for stablecoins using safe assets like cash or short-term Treasury bills.
Priority claim status for stablecoin holders over other creditors if the issuing company goes bankrupt.
Requirement for monthly public disclosures regarding the composition of the issuer's financial reserves.
Strict anti-money laundering rules and prohibitions on misleading marketing regarding government backing.
article Official text account_balance Process page
VOTING RESULTS
2025-07-17
72%
For 308
Against 122
Abstain 0
Full voting results open_in_new
Became Law
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1582
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2025-05-05
Voting date: 2025-07-17
Meeting no: 1
Voting no: 200
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Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

GENIUS Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1582.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-05.

What are the main provisions?

Key points include:

  • Mandatory 1:1 reserve backing for stablecoins using safe assets like cash or short-term Treasury bills.
  • Priority claim status for stablecoin holders over other creditors if the issuing company goes bankrupt.
  • Requirement for monthly public disclosures regarding the composition of the issuer's financial reserves.
  • Strict anti-money laundering rules and prohibitions on misleading marketing regarding government backing.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 119-27.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-19.

CATEGORIES

Economy Informatization