The US regulator is ready to adopt a law on stablecoins

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act) bill may be passed in the U.S. Senate this week, by June 6, 2025. This was reported by Fox Business journalist Eleanor Terrett, citing her own sources. This document, which was introduced by Senator Bill Hagerty in February 2025, contains a number of provisions to regulate the activities of stablecoin issuers and increase market transparency.

After being amended in March, the document was approved by the committee in the middle of the month. The new provisions include disclosure requirements for public officials holding stablecoins, a ban on issuers from China and sanctioned countries, and amendments to the Bank Secrecy Act. The authors of the GENIUS Act are trying to secure bipartisan support to pass the amendments through a simplified procedure.

However, the bill has faced criticism from some Democratic senators who fear that the document could «protect» the World Liberty Financial platform linked to President Donald Trump. Terrett noted that a final vote in the Senate is possible by the end of the week, or by June 9 in case of delays.

Against the backdrop of these events, the capitalization of the stablecoin market exceeded $ 250 billion for the first time, with $ 245.5 billion accounted for by dollar stablecoins. This demonstrates the high interest in the market and the importance of regulatory decisions in the United States.

Paolo Ardoino, CEO of Tether, welcomed the GENIUS Act initiative, but said that the company does not plan to focus on the US market and will issue a separate stablecoin for the US that will meet all regulatory requirements.