Crypto: Update & Details on the Genius Act
Guiding and Establishing National Innovation for U.S. Stablecoins Act
Legislative & Legal Status
The GENIUS Act has officially become law.
What benefits come with it, and when?
The full name of the Genius Act is, Guiding and Establishing National Innovation for U.S. Stablecoins Act
At the heart of the Genius act is the clarification of stablecoins, how they can be issued and created by financial institutions and retailers.
Retailers can create customer loyalty programs that include tokenized rewards that can be spent across a retailer’s ecosystem.
Though Stablecoins have been around for some time, the Genius Act helps to clarify definitions and oversight, increasing understanding of how they can be used.
Stablecoins are expected to provide several benefits including, lowering the costs of business operations by increasing the efficiency of processing financial transactions thereby reducing the cost to merchants and banks.
In addition to processing cost savings, stablecoins are a form of tokens that merchants, and other businesses, including entertainers and media, can use to engage and connect with their customers and community. Customer loyalty programs can be enhanced by use of these tokens, entertainment businesses including, music and film producers, can use tokens to generate revenue to finance recording sessions for albums and production of videos, touring performers can generate revenue and develop fan engagement in advance of their tours.
There is a broad array of opportunity for businesses of all kinds that will result from the Genius Act.
The Genius Act is the first legislation aimed at making the US the crypto capital of the planet, Trump’s stated campaign goal back in the summer of 2024.
Bipartisan Support
Having moved through both houses of congress at near record speed the act was introduced by in the Senate on May 1, 2025, and signed into law by President Trum on July 18. Taking just over 2 and a half months.
The Act passed with strong support from both parties passing the Senate 68–30, the House 308–122.
What’s next
Final and complete implementation will take effect either 18 months after enactment (around November 2026) or 120 days after final implementing regulations are issued, whichever comes first.
At this time Regulatory agencies including the Treasury, Office of the Comptroller of the Currency, FDIC, Federal Reserve, and state regulators—are tasked with issuing the necessary regulations by July 2026. Following that, the process by issuing a Request for Comment to the public.
Pending Legislation
Anti-CBDC Surveillance State Act
Passed by the House on July 17, 2025, this bill prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals or through intermediaries, aiming to protect financial privacy and enshrine limits on digital surveillance. It codifies an earlier executive order from President Trump.Executive Order 14178 (January 23, 2025) is the one that explicitly bars the Federal Reserve (and other federal agencies) from creating a digital currency (a CBDC).
CLARITY Act → Crypto Legal Clarity Act (House-passed, now in Senate).
STABLE Act → Stablecoin Transparency and Accountability for a Better Ledger Economy Act (a draft under discussion).