Crypto Regulation Breakthrough: US Moves Forward with GENIUS Act
Jakarta, Pintu News – The US House of Representatives recently took a major step forward in stablecoin regulation by advancing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025. The Act is expected to be a milestone in the regulation of stablecoins, providing the first comprehensive framework for this type of cryptocurrency.
The process of passing the GENIUS Act
The US Senate successfully passed a procedural vote by 66-32 on Monday night, showing strong bi-partisan support. Several Democratic members voted in favor after amendments were made to address ethical concerns.
With only a simple majority required, many are optimistic that the Act will pass the next debate and vote. The upcoming debate in the Senate is expected to take the GENIUS Act to the next stage before it goes to the House of Representatives. Senate Majority Leader, John Thune, criticized the delay as unnecessary by Democrats, emphasizing that stablecoin regulation is a bipartisan issue that should be addressed quickly.
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Political Controversy Over the GENIUS Act
Despite being proposed as a bipartisan bill, the GENIUS Act faces political challenges, mainly related to alleged conflicts of interest involving President Donald Trump and his family’s crypto empire. The USD1 stablecoin backed by the World Liberty Foundation (WLF) is a point of contention, with allegations that it could enable financial self-dealing by the President.
Prominent senators such as Elizabeth Warren and Bernie Sanders have voiced their criticism, demanding further amendments to ensure no undue personal advantage can be gained through this legislation. This shows how important transparency and fairness are in the regulation of digital finance.
Next Steps and Impact on the Crypto Industry
After the Senate, the GENIUS Act will go to the House of Representatives, where it will undergo further review and voting. The House has already developed their own stablecoin legislation, the STABLE Act, and it is thought that a reconciliation between the two bills may be necessary to achieve regulatory clarity.
The passage of the GENIUS Act is expected to bring much-needed regulatory certainty and boost investor confidence. Major stablecoin issuers such as Circle and Tether have already expressed their support, suggesting that the law could help integrate digital assets into the traditional financial system.
Conclusion
With the advancement of the GENIUS Act, the US is on track to strengthen stablecoin regulation, joining other countries that are also seeking to capitalize on the growing crypto industry. This move will not only support the growth of the digital economy but also ensure financial security and stability for users and investors.
Also Read: SEC and Crypto Regulation: Between Stability and Innovation
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