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Guardrails for the digital dollar: The GENIUS Act explained

American flags are displayed on the lawn of the National Mall with the US Capitol Building in the background at sunset on June 2, 2025 in Washington, DC.
Photo: Kevin Carter/Getty Images

The moment the ink dries on the GENIUS Act will mean compliance stops being a talking point and becomes a daily imperative.

Efforts to regulate cryptocurrencies and stablecoins have been percolating in Washington for several years, with sporadic bipartisan interest but no major legislation reaching the finish line.

In 2021, the President’s Working Group on Financial Markets under Treasury Secretary Janet Yellen warned that stablecoins (digital tokens pegged to assets like the