S. 394 · Where this bill is now
In committee
Introduced in the Senate, Feb 4, 2025
119th Congress
1st SessionS. 394
1st SessionS. 394
A BILL
GENIUS Act of 2025
In the SenateNo vote yet
Sponsor: Sen. Bill Hagerty (R-TN) · Introduced Feb 4, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Feb 4, 2025: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”
Sections
Sections · 16
- Sec. 1Short titleNo change
- Sec. 2DefinitionsNo change
- Sec. 3Limitation on who may issue a payment stablecoinNo change
- Sec. 4Requirements for issuing payment stablecoinsNo change
- Sec. 5Approval of subsidiaries of insured depository institutions and Federal qualified nonbank payment stablecoin issuersNo change
- Sec. 6Supervision and enforcement with respect to subsidiaries of insured depository institutions and Comptroller-regulated entitiesNo change
- Sec. 7State qualified payment stablecoin issuersNo change
- Sec. 8Customer protectionNo change
- Sec. 9Treatment of insolvent payment stablecoin issuersNo change
- Sec. 10Interoperability standardsNo change
- Sec. 11Study on endogenously collateralized stablecoinsNo change
- Sec. 12ReportsNo change
- Sec. 13Authority of banking institutionsNo change
- Sec. 14Amendments to clarify that payment stablecoins are not securities or commoditiesNo change
- Sec. 15Reciprocity for stablecoins issued in overseas jurisdictionsNo change
- Sec. 16Effective dateNo change