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Regulation and User Protection for U.S. Payment Stablecoins

This act establishes a legal framework for payment stablecoins, requiring issuers to maintain 1-to-1 reserves in assets like cash or Treasury bills. It aims to protect user funds by ensuring timely redemption for monetary value and by prioritizing stablecoin holders' claims over other creditors regarding reserves if an issuer enters bankruptcy proceedings.
Key points
Only approved banks and qualified non-bank entities can issue payment stablecoins.
Issuers must maintain 1-to-1 reserves in liquid assets to guarantee value stability.
In the event of an issuer's insolvency, stablecoin holders have priority claim to the reserves over other creditors.
Issuers are treated as financial institutions subject to anti-money laundering and sanctions laws.
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Status: Placed on Calendar
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Additional Information
Print number: 119_S_919
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2025-03-10
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

GENIUS Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_919.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-03-10.

What are the main provisions?

Key points include:

  • Only approved banks and qualified non-bank entities can issue payment stablecoins.
  • Issuers must maintain 1-to-1 reserves in liquid assets to guarantee value stability.
  • In the event of an issuer's insolvency, stablecoin holders have priority claim to the reserves over other creditors.
  • Issuers are treated as financial institutions subject to anti-money laundering and sanctions laws.
What is the specific legal status?

The current status is Placed on Calendar.

Where can I read the full text of this legislation?

The full official text is available at: View full text

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: Placed on Senate Legislative Calendar under General Orders. Calendar No. 33.

Is this summary verified?

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

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy