119th Congress · introduced in the Senate · Mar 10, 2025
GENIUS Act of 2025
Official title from Congress.gov
Latest action (Mar 18, 2025): Placed on Senate Legislative Calendar under General Orders. Calendar No. 33.
View on Congress.govPolicy area: Finance and Financial Sector
Congressional Research Service summary, version: Introduced in Senate (Mar 10, 2025)
Guiding and Establishing National Innovation for U.S. Stablecoins Act 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 value).
Under the bill, only permitted issuers may issue a payment stablecoin for use by U.S. persons, subject to certain exceptions. 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 specifies requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers.
The bill allows foreign issuers to offer stablecoins in the United States if the issuer has the capability to comply with lawful orders. The Department of the Treasury must establish reciprocal agreements between the United States and similarly regulated jurisdictions.
Show the full summary (1 more paragraphs)Includes 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.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 33.
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
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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.
130 citations; showing the 25 most recently posted.
CITIGROUP WASHINGTON, INC. · lobbying firm or registrant: CITIGROUP WASHINGTON, INC.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · amended · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$1,270,000
Spent on own lobbying
…provisions S.401/H.R.987, Fair Access to Banking Act - all provisions S.875/H.R.2702, Financial Integrity and Regulation Management (FIRM) Act - all provisions S.919/S.1582, Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act - all provisions S.1053/H.R.2246, Foreign Investment Guardrails to Help…
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
…d 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. 1603; H.R. 1652; H.R 179…
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
…d 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. 1603; H.R. 1652; H.R 179…
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
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
…al 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, the 10 P…
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
DIGITAL CURRENCY GROUP · lobbying firm or registrant: DIGITAL CURRENCY GROUP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$310,000
Spent on own lobbying
…ialized auditing firms to examine embedded supervision and regulation of decentralized protocols, and for other purposes. H.R. 148, Keep Your Coins Act of 2025 S. 919, GENIUS Act H.R. 2392, STABLE Act H.R. 2384, Financial Technology Protection Act H.R.216, Securities Enforcement Clarity Act of 2025 H.R. 2365, Securities Clar…
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
CF SECURED LLC · lobbying firm or registrant: MILLER STRATEGIES, LLC
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Paid to lobbying firm
General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - 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
CRYPTO COUNCIL FOR INNOVATION · lobbying firm or registrant: CRYPTO COUNCIL FOR INNOVATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 11, 2026 · issue area: Banking
$300,000
Spent on own lobbying
Issues related to stablecoin legislation implementation; S. 919 - Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Issues related to AML requirements: H.R. 2824 - Financial Technology Protecti…
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
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · amended · posted Jul 22, 2026 · issue area: Financial Institutions/Investments/Securities
$270,000
Spent on own lobbying
…6, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Issues related to including digital assets in registered invest…
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
…d 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. 1652; H.R 1791; H.R. 1…
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
…d 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. 1652; H.R 1791; H.R. 1…
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
AMERICAN BANKERS ASSOCIATION · lobbying firm or registrant: AMERICAN BANKERS ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Banking
$3,510,000
Spent on own lobbying
…al 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, the 10 P…
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
DIGITAL CURRENCY GROUP · lobbying firm or registrant: DIGITAL CURRENCY GROUP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$410,000
Spent on own lobbying
…ialized auditing firms to examine embedded supervision and regulation of decentralized protocols, and for other purposes. H.R. 148, Keep Your Coins Act of 2025 S. 919, GENIUS Act H.R. 2392, STABLE Act H.R. 2384, Financial Technology Protection Act H.R.216, Securities Enforcement Clarity Act of 2025 H.R. 2365, Securities Clar…
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
CF SECURED LLC · lobbying firm or registrant: MILLER STRATEGIES, LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Paid to lobbying firm
General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - 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
CRYPTO COUNCIL FOR INNOVATION · lobbying firm or registrant: CRYPTO COUNCIL FOR INNOVATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 15, 2026 · issue area: Banking
$310,000
Spent on own lobbying
Issues related to stablecoin legislation implementation; S. 919 - Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Issues related to AML requirements: H.R. 2824 - Financial Technology Protecti…
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 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 21, 2026 · issue area: Financial Institutions/Investments/Securities
$90,000
Spent on own lobbying
…d 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; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.…
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 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 21, 2026 · issue area: Banking
$90,000
Spent on own lobbying
…d 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; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.…
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
AMERICAN BANKERS ASSOCIATION · lobbying firm or registrant: AMERICAN BANKERS ASSOCIATION
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Banking
$3,140,000
Spent on own lobbying
…al 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, the 10 P…
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
DIGITAL CURRENCY GROUP · lobbying firm or registrant: DIGITAL CURRENCY GROUP
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$380,000
Spent on own lobbying
…ialized auditing firms to examine embedded supervision and regulation of decentralized protocols, and for other purposes. H.R. 148, Keep Your Coins Act of 2025 S. 919, GENIUS Act H.R. 2392, STABLE Act H.R. 2384, Financial Technology Protection Act H.R.216, Securities Enforcement Clarity Act of 2025 H.R. 2365, Securities Clar…
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
CF SECURED LLC · lobbying firm or registrant: MILLER STRATEGIES, LLC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Paid to lobbying firm
General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - 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
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$250,000
Spent on own lobbying
…6, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Various reconciliation issues in H.R.1, the One Big Beautiful B…
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
STRIPE, INC. · lobbying firm or registrant: CORNERSTONE GOVERNMENT AFFAIRS, INC.
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Banking
$60,000
Paid to lobbying firm
Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of con…
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
STRIPE, INC. · lobbying firm or registrant: CORNERSTONE GOVERNMENT AFFAIRS, INC.
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$60,000
Paid to lobbying firm
Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of con…
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
CORNERSTONE GOVERNMENT AFFAIRS OBO STRIPE, INC. · lobbying firm or registrant: JGB & ASSOCIATES, LLC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 16, 2026 · issue area: Banking
Amount not reported
Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of con…
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
CORNERSTONE GOVERNMENT AFFAIRS OBO STRIPE, INC. · lobbying firm or registrant: JGB & ASSOCIATES, LLC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 16, 2026 · issue area: Financial Institutions/Investments/Securities
Amount not reported
Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of con…
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
CORNERSTONE GOVERNMENT AFFAIRS OBO CIRCLE INTERNET FINANCIAL, INC. · lobbying firm or registrant: JGB & ASSOCIATES, LLC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 16, 2026 · issue area: Banking
Amount not reported
Issues related to stablecoin legislation (S. 919, the GENIUS Act and HR 2392, the STABLE Act of 2025) and crypto market structure reform 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. View filing