Crypto: GENIUS Act Passes Senate With 68–30 Vote

The regulation of stablecoins in the United States has just reached a historic milestone. The US Senate voted 68 to 30 to advance the GENIUS Act bill, paving the way for a debate in a plenary session. Does this progress finally mark the birth of a federal regulatory framework for dollar-backed cryptocurrencies?

A Strategic Vote Despite Political Tensions

On Wednesday, June 11, 2025, the Senate gave its green light to advance the GENIUS bill (Guiding and Establishing National Innovation for US Stablecoins), more than a month after its official introduction.

This parliamentary victory marks a turning point after the crushing failure of a previous stablecoin bill a few weeks earlier.

John Thune, Senate Majority Leader, has been a staunch advocate of this revolutionary legislation.

“We want to bring crypto to the mainstream, and the GENIUS Act will help us achieve that“, he declared with conviction.

His speech closely echoes Donald Trump’s rhetoric, promising to make the United States the “crypto capital of the world”.

This legislative progress fits into a broader crypto regulatory momentum. The CLARITY Act, currently under review in the House, perfectly complements the GENIUS approach. Two House committees even voted in favor of this complementary bill last Tuesday.

The stablecoin sector, dominated by players like Circle with its USDC, eagerly awaits this regulatory clarification.

The most optimistic forecasts speak of spectacular market growth, which could reach 2 trillion dollars by 2028, nearly ten times its current valuation of 230 billion.

Stubborn Opposition Persists Despite Bipartisan Support

Despite this parliamentary victory, criticism still pours in. Elizabeth Warren, Senator from Massachusetts, issued a sharp indictment against the GENIUS bill. She denounces “fundamental problems” unresolved and “flaws” in the consumer protections proposed.

Warren goes further by directly pointing to Trump’s potential conflicts of interest. “Through his crypto activities, Trump created an effective means of exchanging presidential favors“, she charges.

These attacks particularly target the president’s controversial ties with World Liberty Financial and the privileges granted to holders of his memecoins.

The battle is not over yet. The bill still needs to survive the Senate floor vote and then face scrutiny by the House of Representatives where Republicans hold only a slim majority. This complex political configuration could complicate the final adoption of the text.

David Sacks, the “tsar of AI and crypto” from the Trump administration, remains optimistic. He is counting on strong bipartisan support to secure the passage of the GENIUS Act. Meanwhile, the STABLE Act, its counterpart in the House, continues its examination within the Financial Services Committee.

A Major Transformation for the Crypto Ecosystem

This legislative progress could revolutionize the American stablecoin industry. The GENIUS framework imposes strict guarantees: each stablecoin must be backed by US dollars or equivalent liquid assets.

Annual audits will become mandatory for issuers exceeding 50 billion dollars in market capitalization.

The adoption of this law would considerably strengthen the competitive position of the United States against other crypto-friendly jurisdictions. It could also drive massive demand for US Treasury bonds, with analysts predicting purchases of 1.6 trillion dollars of T-bills over four years.

This momentum would consolidate the dollar’s hegemony in the global crypto world, thus transforming stablecoins into true pillars of American digital finance.