119th Congress · introduced in the Senate · Feb 4, 2025
GENIUS Act of 2025
Official title from Congress.gov
Latest action (Feb 4, 2025): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
View on Congress.govPolicy area: Finance and Financial Sector
Congressional Research Service summary, version: Introduced in Senate (Feb 4, 2025)
Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 or the GENIUS Act of 2025
This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed monetary value).
Under the bill, only permitted issuers may issue a payment stablecoin in the United States. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state regulator. Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less.
Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves.
The bill sets forth requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority.
In a bankruptcy insolvency proceeding involving a payment stablecoin issuer, stablecoin holders have priority over all other claims.
Under the bill, permitted payment stablecoins are not considered securities under securities law. However, permitted issuers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.
The Federal Reserve must create and implement agreements with other jurisdictions that similarly regulate stablecoins for the purpose of facilitating international transactions and interoperability with U.S. dollar-denominated stablecoins issued overseas.
Show less of the summaryIncludes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Actions from Congress.gov, newest first.
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 24, 2026.
302 citations; showing the 25 most recently posted.
THE FINTECH ACCORD · lobbying firm or registrant: WHITMER & WORRALL, LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 21, 2026 · issue area: Financial Institutions/Investments/Securities
$10,000
Paid to lobbying firm
Issues related to S. 394, the GENIUS Act of 2025. Issues related to the Congressional FinTech and Payments Caucus. Issues related to artificial intelligence and payments. Issues relate…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PAYSAFE PAYMENT PROCESSING SOLUTIONS, LLC · lobbying firm or registrant: WHITMER & WORRALL, LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 21, 2026 · issue area: Financial Institutions/Investments/Securities
$40,000
Paid to lobbying firm
Issues related to S. 394, the GENIUS Act of 2025. Issues related to the Congressional FinTech and Payments Caucus. Issues related to artificial intelligence and payments. Issues relate…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
GOWEST CREDIT UNION ASSOCIATION · lobbying firm or registrant: GOWEST CREDIT UNION ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$60,000
Spent on own lobbying
…it unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; S. 3355; S. 3674; S. 3684; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R.…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
GOWEST CREDIT UNION ASSOCIATION · lobbying firm or registrant: GOWEST CREDIT UNION ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Banking
$60,000
Spent on own lobbying
…it unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; S. 3355; S. 3674; S. 3684; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R.…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
VISA · lobbying firm or registrant: WILLIAMS AND JENSEN, PLLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$50,000
Paid to lobbying firm
…ogy; issues related to payment card security; issues relating to Data Use and Privacy. Issues relating to the Credit Card Competition Act. S. 3623 & H.R. 7035. S. 394. PL 119-27 Guiding and Establishing National Innovation for US Stablecoin (GENIUS) Act. H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act.
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PWC US GROUP LLP · lobbying firm or registrant: PWC US GROUP LLP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Accounting
$810,000
Spent on own lobbying
…ted to oversight of international accounting business; Digital assets, attestation issues related to proof of reserves, and stablecoin legislation, GENIUS Act (S. 394) and STABLE Act (H.R. 2392).
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN BANKERS ASSOCIATION · lobbying firm or registrant: AMERICAN BANKERS ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Banking
$3,100,000
Spent on own lobbying
…071 Repeal to Protect Small Business Lending Act H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (STABLE Act) S. 394/ S.919, Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) S.3623/H.R.7035, Credit Card Competition Act of 2026 H.R. 1944/S. 381, t…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Banking
$671,823
Spent on own lobbying
…nition and private fund compliance issues; Blockchain regulatory and policy issues; Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), GENIUS Act of 2025 (S.394), and STABLE Act of 2025 (H.R.2392); JOBS Act modernization; Developing and Empowering our Aspiring Leaders (DEAL) Act; Improving Capital Allocation for Newcom…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Agriculture
$671,823
Spent on own lobbying
Blockchain regulatory and policy issues; Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), GENIUS Act of 2025 (S.394), and STABLE Act of 2025 (H.R.2392)
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN ASSOCIATION FOR JUSTICE · lobbying firm or registrant: AMERICAN ASSOCIATION FOR JUSTICE
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$1,580,000
Spent on own lobbying
HR 2392, STABLE Act of 2025. S. 394, GENIUS Act of 2025. General lobbying on the importance of minority viewpoints on the Securities and Exchange Commission. General lobbying on shareholder force…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PAYPAL · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Taxation/Internal Revenue Code
$50,000
Paid to lobbying firm
H.R.2392 - STABLE Act of 2025. S.394 - GENIUS Act of 2025.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NORTHERN TRUST · lobbying firm or registrant: MEHLMAN CONSULTING, INC.
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Banking
$50,000
Paid to lobbying firm
…banking issues related to cryptocurrency legislation. Issues related to custodial banking, including FED, FDIC and SEC regulations. H.R. 2392, the STABLE Act. S. 394, the GENIUS Act. H.R. 1013/S. 424, the Retirement Fairness for Charities and Education Institutions Act of 2025. Senate Bill - Discussion Draft "Responsible Fi…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
TETHER OPERATIONS, S.A. DE C.V. · lobbying firm or registrant: JUCUNDUS BUSINESS SERVICES LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$40,000
Paid to lobbying firm
Legislative and regulatory policies related to cryptocurrency. S. 394, GENIUS Act of 2025. H.R. 2392, STABLE Act of 2025. H.R. 3633, Digital Asset Market Clarity Act of 2025.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
TETHER OPERATIONS, S.A. DE C.V. · lobbying firm or registrant: JUCUNDUS BUSINESS SERVICES LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Banking
$40,000
Paid to lobbying firm
Legislative and regulatory policies related to cryptocurrency. S. 394, GENIUS Act of 2025. H.R. 2392, STABLE Act of 2025. H.R. 3633, Digital Asset Market Clarity Act of 2025.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
COINBASE, INC. · lobbying firm or registrant: PORTERFIELD, FETTIG & SEARS, LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 19, 2026 · issue area: Financial Institutions/Investments/Securities
$60,000
Paid to lobbying firm
Issues related to the storage and trading of digital assets; S.394, the GENIUS Act; Digital Asset Market Structure legislation.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
TETHER OPERATIONS, S.A. DE C.V. · lobbying firm or registrant: LILETTE ADVISORS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 13, 2026 · issue area: Financial Institutions/Investments/Securities
$80,000
Paid to lobbying firm
Advocating on issues related to the regulation of stablecoins in the Genius Act of 2025, S. 394
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
THE FINTECH ACCORD · lobbying firm or registrant: WHITMER & WORRALL, LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Aug 10, 2026 · issue area: Financial Institutions/Investments/Securities
Amount not reported
Issues related to S. 394, the GENIUS Act of 2025. Issues related to the Congressional FinTech and Payments Caucus. Issues related to artificial intelligence and payments. Issues relate…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. View filing
ANCHORAGE DIGITAL BANK · lobbying firm or registrant: MERCURY STRATEGIES, LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Aug 4, 2026 · issue area: Financial Institutions/Investments/Securities
$60,000
Paid to lobbying firm
Specific lobbying on the following Legislation: S. 394--GENIUS Act and H.R. 2392--STABLE Act (Legislation to create a pathway for stablecoin issuance) (all provisions, particularly implementation issues); S. 954/H.…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ANCHORAGE DIGITAL BANK · lobbying firm or registrant: MERCURY STRATEGIES, LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Aug 4, 2026 · issue area: Banking
$60,000
Paid to lobbying firm
Specific lobbying on the following Legislation: S. 394--GENIUS Act and H.R. 2392--STABLE Act (Legislation to create a pathway for stablecoin issuance) (all provisions, particularly implementation issues); S. 954/H.…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PAYSAFE PAYMENT PROCESSING SOLUTIONS, LLC · lobbying firm or registrant: WHITMER & WORRALL, LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 22, 2026 · issue area: Financial Institutions/Investments/Securities
$40,000
Paid to lobbying firm
Issues related to S. 394, the GENIUS Act of 2025. Issues related to the Congressional FinTech and Payments Caucus. Issues related to artificial intelligence and payments. Issues relate…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
GOWEST CREDIT UNION ASSOCIATION · lobbying firm or registrant: GOWEST CREDIT UNION ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 21, 2026 · issue area: Financial Institutions/Investments/Securities
$80,000
Spent on own lobbying
…it unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; S. 3355; S. 3684; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
GOWEST CREDIT UNION ASSOCIATION · lobbying firm or registrant: GOWEST CREDIT UNION ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 21, 2026 · issue area: Banking
$80,000
Spent on own lobbying
…it unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; S. 3355; S. 3684; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Agriculture
$1,173,637
Spent on own lobbying
Blockchain regulatory and policy issues; Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), GENIUS Act of 2025 (S.394), and STABLE Act of 2025 (H.R.2392)
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Banking
$1,173,637
Spent on own lobbying
…nition and private fund compliance issues; Blockchain regulatory and policy issues; Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), GENIUS Act of 2025 (S.394), and STABLE Act of 2025 (H.R.2392); JOBS Act modernization; Developing and Empowering our Aspiring Leaders (DEAL) Act; Improving Capital Allocation for Newcom…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
PWC US GROUP LLP · lobbying firm or registrant: PWC US GROUP LLP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Accounting
$740,000
Spent on own lobbying
…ted to oversight of international accounting business; Digital assets, attestation issues related to proof of reserves, and stablecoin legislation, GENIUS Act (S. 394) and STABLE Act (H.R. 2392).
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing