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S 919 · introduced · significant

GENIUS Act of 2025

What this bill does

  • This bill creates federal and state rules for companies that issue stablecoins, a type of digital currency backed by dollars or similar assets.
  • Banks, nonbanks, and state-regulated firms can issue stablecoins if they meet reserve and disclosure requirements and comply with anti-money laundering laws.
  • Issuers must maintain one-to-one reserves, publicly report monthly details, and submit to federal or state regulation depending on their size and structure.

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Community Threads

Started by Cosponsor

  1. 01

    What concerns do you have about allowing nonbank companies to issue stablecoins compared to traditional banks that already hold customer deposits?

  2. 02

    How might monthly public reporting requirements on stablecoin reserves affect consumer trust or create competitive disadvantages for smaller issuers?

  3. 03

    Which regulatory approach—federal oversight for large issuers or state-by-state regulation for smaller firms—would better protect consumers from fraud or instability?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · R-TN

Bill Hagerty

Citizen cosponsors

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In Congress

4/ 100

Senators cosponsoring

Introduced 2025-03-18

Joining the bill

Legislative timeline

  1. 2025-03-18 · senate · Calendars

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

  2. 2025-03-18 · senate · Committee

    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.

  3. 2025-03-18 · Committee

    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.

  4. 2025-03-13 · senate · Committee

    Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

  5. 2025-03-10 · senate · IntroReferral

    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  6. 2025-03-10 · IntroReferral

    Introduced in Senate

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