Will New US Blockchain Legislation Shape Global Infrastructure?

Key Points

1. The GENIUS Act of 2025 (Guiding and Establishing National Innovation for U.S. Stablecoins of 2025) was passed by the U.S. Senate on June 17, 2025, creating a regulatory framework for stablecoins.

2. Democrats opposed the bill, arguing it lacked sufficient regulations to prevent abuses and could benefit President Trump and his family.

3. The legislation is part of a broader effort to build America's blockchain infrastructure, including the Deploying American Blockchains Act, which directs the Department of Commerce to support U.S. leadership in blockchain technology.

4. The GENIUS Act is compared to the Telecommunications Act of 1996, with potential to spur innovation similar to how the 1996 act did for the internet.

5. The political tensions surrounding the bill were evident, with Republicans narrowly passing President Trump's budget reconciliation bill in a contentious 50-50 Senate vote.