U.S. Congress Passes Historic Stablecoin Bill

In a landmark move for the future of money and digital finance, the U.S. House of Representatives voted 308-122 to pass the bipartisan GENIUS Act. This historic vote clears a path for a U.S. regulatory framework for payment stablecoins, the first in the nation’s history. The bill, which passed the Senate on June 17 by an overwhelming bipartisan vote of 68-30, now heads to the President’s desk, where it awaits his signature into law.

Commenting on the House passage, Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy, praised lawmakers for their leadership:

“The House vote to clear the GENIUS Act for the President’s signature is a defining moment for the future of money and the internet financial system. It signals strong bipartisan support for responsible innovation and sends a clear message that the U.S. will lead in the regulation of dollar-backed payment stablecoins. We commend Congressional leaders for delivering a regulatory foundation that puts consumer protection, financial integrity, and U.S. competitiveness at the forefront.”

The GENIUS Act—short for Guiding and Establishing National Innovation for U.S. Stablecoins—provides an opportunity to democratize finance for consumers and businesses around the world while enhancing American economic competitiveness. The bill sets consistent standards for reserve backing, transparency, and consumer protections, paving the way for greater trust, safety, and innovation in the digital asset space. Once enacted, the legislation will help cement U.S. leadership in digital asset technology and reinforce the dollar’s enduring global role.

A Major Milestone for the U.S. Dollar

This legislative breakthrough reflects growing recognition across party lines of the strategic importance of blockchain-based financial infrastructure. The GENIUS Act lays the groundwork for U.S. leadership in setting standards for payment stablecoins, helping ensure that dollar-backed payment stablecoins can be safely and widely used within both the domestic and global economy.

What Comes Next

Under the U.S. Constitution, President Trump has 10 days (excluding Sundays) to sign the legislation after receiving it from Congress. Once signed into law, the GENIUS Act will usher in a new era of regulatory clarity that fosters trust and unlocks the full potential of payment stablecoins like USDC, already in use by millions globally, and an integral part of the internet financial system.

Circle remains committed to working closely with regulators and policymakers as this important legislation nears the finish line—and beyond.