S. 1582 // July 17, 2025
GENIUS Act
Sponsor: Bill Hagerty (R-TN)
This act establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value). Under the act, only permitted issuers may issue a payment stablecoin for use by U.S. persons, subject to certain exceptions and safe harbors. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 1.6% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 68 | 74.3% |
| Nay | Lost | 30 | 24.2% |
| Not represented on this question | No position taken | 0 | 1.6% |