S1582: GENIUS Act
119th Congress (2025–2027) · Senate bill · Sponsor: Sen. Hagerty, Bill [R-TN]
119th Congress (2025–2027) · Senate bill · Sponsor: Sen. Hagerty, Bill [R-TN]
| Item | Detail |
|---|---|
| Roll-call votes | 7 |
| Chamber | House and Senate |
| Latest vote | 2025-07-17: Passed |
| Latest action | 2025-07-18: Became Public Law No: 119-27. |
| Policy area | Finance and Financial Sector |
| Official record | Congress.gov |
Guiding and Establishing National Innovation for U. S. Stablecoins Act or the GENIUS ActThis act establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value). Under the act, only permitted issuers may issue a payment stablecoin for use by U. S. persons, subject to certain exceptions and safe harbors. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state regulator. Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less. Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U. S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves. The act specifies requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers. The act allows foreign issuers of stablecoins to offer, sell, or make available in the United States stablecoins using digital asset service providers, subject to requirements, including a determination by the Department of Treasury that they are subject to comparable foreign regulations. Under the act, permitted payment stablecoins are not…
Subjects: Accounting and auditing, Administrative law and regulatory procedures, Bank accounts, deposits, capital, Banking and financial institutions regulation, Bankruptcy, Business records, Civil actions and liability, Congressional oversight, Currency, Department of the Treasury
Every recorded vote on this bill, newest first, with a link to the official tally. Member-by-member positions are on each member’s profile.
| Date | Chamber | Question | Result | Yea | Nay | Not voting | Record |
|---|---|---|---|---|---|---|---|
| 2025-07-17 | House | Yea-and-Nay | Passed | 306 | 121 | 1 | Official tally |
| 2025-06-17 | Senate | On Passage of the Bill S. 1582 | Bill Passed (68-30) | 66 | 30 | 2 | Official tally |
| 2025-06-12 | Senate | On the Cloture Motion S. 1582 | Cloture Motion Agreed to (67-27, 3/5 majority required) | 65 | 27 | 6 | Official tally |
| 2025-06-11 | Senate | On the Cloture Motion S. 1582 | Cloture Motion Agreed to (68-30, 3/5 majority required) | 66 | 30 | 2 | Official tally |
| 2025-05-21 | Senate | On the Motion to Proceed S. 1582 | Motion to Proceed Agreed to (69-31) | 67 | 31 | 0 | Official tally |
| 2025-05-19 | Senate | On Cloture on the Motion to Proceed S. 1582 | Cloture on the Motion to Proceed Agreed to (66-32, 3/5 majority required) | 64 | 32 | 2 | Official tally |
| 2025-05-08 | Senate | On Cloture on the Motion to Proceed S. 1582 | Cloture on the Motion to Proceed Rejected (48-49, 3/5 majority required) | 47 | 48 | 3 | Official tally |
S1582 (GENIUS Act) was introduced in the 119th Congress (2025–2027) by Sen. Hagerty, Bill [R-TN].
On 2025-07-18: Became Public Law No: 119-27.
7 recorded votes in the 119th Congress. The most recent, on 2025-07-17, was "Yea-and-Nay": Passed.