On March 13, 2025, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which aims to establish a regulatory framework for payment stablecoins, passed the United States Committee on Banking, Housing, and Urban Affairs with a bipartisan 18-6 vote, paving the way for Congressional approval. The bill was introduced and sponsored by Senator Bill Hagerty (R-Tenn.) and has earned the support of Senator Tim Scott (R-SC), Senator Kristen Gillibrand (D-NY) and Senator…
By: Ballard Spahr LLP
By: Ballard Spahr LLP
