Stablecoin Bill Review Begins March 10

GENIUS Stablecoin Bill Under Senate Review

• The GENIUS Act aims to establish a regulatory framework for stablecoins in the US.
• Federal oversight is mandated for issuers with over $10 billion in market capitalization.
• The bill was introduced by Senator Hagerty on February 4, 2025.
• Stablecoin issuance is restricted to certain permitted entities.
• The bill prohibits algorithmic stablecoins and requires full backing with US dollars or approved assets.

The Senate Banking Committee plans to review the GENIUS Act during the week of March 10. This bill, introduced by Senator Hagerty, focuses on regulating stablecoin issuers, particularly those with significant market capitalizations. It mandates full asset backing and prohibits algorithmic stablecoins.