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New federal law would require licenses for stablecoin issuers

Signed into lawS. 1582Latest action

Sponsor: Bill Hagerty · Senator · TN

AIDecoded by AI · checked against the record
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Official title: GENIUS Act

119th Congress

Topics: Jobs & the economy

Introduced:

Read the official bill on Congress.gov

In plain words

The plain-language version comes first. The official text is always the reference.

The GENIUS Act would require all U.S. stablecoin issuers to be federally or state licensed and fully back coins with safe assets.

45-second read · 4 questions answered below

What does this do?

The GENIUS Act creates the first comprehensive federal rules for stablecoins, requiring issuers to be licensed as bank subsidiaries, Comptroller-approved companies, or state-approved entities meeting federal standards. It mandates full dollar-for-dollar reserve backing with safe assets, monthly audited disclosures, and bans on interest payments and misleading marketing. Unlicensed stablecoins become illegal to sell in the U.S. after a three-year transition, with fines and possible prison time for violations.

Who does it affect?

Cryptocurrency companies, banks, and fintech firms that issue stablecoins, along with regulators like the Comptroller, Federal Reserve, FDIC, and state banking agencies. Consumers, businesses, investors, and crypto exchanges using stablecoins would also be affected.

Why does it matter?

Issuers face new licensing, reserve, disclosure, and compliance obligations, including anti-money-laundering and sanctions requirements, with legal penalties for noncompliance. Large tech or retail companies face additional restrictions if seeking to issue stablecoins.

AI-drafted summary. Check it against the official text before you act on it.

Read the official bill on Congress.gov

No call to make

This is law.

Where does it stand?

  1. IntroducedMay 1, 2025
  2. Senate committee
  3. Senate vote
  4. House
  5. The president's desk

Right now: the president signed it. It's law.Now law

Latest action: — Became Public Law No: 119-27.

Data as of October 9, 2026

Recorded votes

Roll-call votes recorded since January 3, 2025.

  1. House · · Roll call 200

    As recorded

    Question
    On Passage
    Result:
    Passed
    308
    Nay
    122
    0
    2

    Republicans 206 yes, 12 no, 2 not voting · Democrats 102 yes, 110 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  2. Senate · · Roll call 318

    As recorded

    Question
    On Passage of the Bill S. 1582
    Result:
    Bill Passed
    68
    Nay
    30
    0
    2

    Republicans 50 yes, 2 no, 1 not voting · Democrats 18 yes, 26 no, 1 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  3. Senate · · Roll call 312

    As recorded

    Question
    On the Motion S. 1582
    Result:
    Cloture Motion Agreed to
    67
    Nay
    27
    0
    6

    Republicans 51 yes, 2 no · Democrats 16 yes, 25 no, 4 not voting · Independents 2 not voting

    Official record
    How members voted

    The official record lists how each member voted.Official record

7 earlier votes

  1. Senate · · Roll call 311

    As recorded

    Question
    On the Amendment S.Amdt. 2307 to S. 1582 (No short title on file)
    Result:
    Amendment Agreed to
    67
    Nay
    30
    0
    3

    Republicans 51 yes, 2 no · Democrats 16 yes, 26 no, 3 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  2. Senate · · Roll call 310

    As recorded

    Question
    On the Motion (Motion to Waive All Applicable Budgetary Discipline Re: Amdt. No. 2307)
    Result:
    Motion Agreed to
    64
    Nay
    33
    0
    3

    Republicans 51 yes, 2 no · Democrats 13 yes, 29 no, 3 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  3. Senate · · Roll call 309

    As recorded

    Question
    On the S.Amdt. 2310 to S. 1582 (No short title on file)
    Result:
    Motion to Table Failed
    45
    Nay
    52
    0
    3

    Republicans 1 yes, 52 no · Democrats 42 yes, 3 not voting · Independents 2 yes

    Official record
    How members voted

    The official record lists how each member voted.Official record

  4. Senate · · Roll call 305

    As recorded

    Question
    On the Motion S. 1582
    Result:
    Cloture Motion Agreed to
    68
    Nay
    30
    0
    2

    Republicans 50 yes, 2 no, 1 not voting · Democrats 18 yes, 26 no, 1 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  5. Senate · · Roll call 263

    As recorded

    Question
    On the S. 1582
    Result:
    Motion to Proceed Agreed to
    69
    Nay
    31
    0
    0

    Republicans 51 yes, 2 no · Democrats 18 yes, 27 no · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  6. Senate · · Roll call 262

    As recorded

    Question
    On S. 1582
    Result:
    Cloture on the Motion to Proceed Agreed to
    66
    Nay
    32
    0
    2

    Republicans 50 yes, 2 no, 1 not voting · Democrats 16 yes, 28 no, 1 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  7. Senate · · Roll call 240

    As recorded

    Question
    On S. 1582
    Result:
    Cloture on the Motion to Proceed Rejected
    48
    Nay
    49
    0
    3

    Republicans 48 yes, 3 no, 2 not voting · Democrats 44 no, 1 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

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