Pete Ricketts (R-NE)· Jun 9, 2025
S.Amdt. 2228: To provide for expedited certification of existing regulatory regimes.
Withdrawn
Proposed amendment SA 2228 withdrawn in Senate.
A Republican bill with 5 Republican cosponsors · See all 5 cosponsors
Last activity — Became Public Law No: 119-27.
Became law
Passed both chambers and was signed by the President, or became law without a signature.
Nothing more in Congress: it is law. When it takes effect depends on the dates written into it — some parts start at once, others a year or more later.
What this bill would do
The GENIUS Act establishes a regulatory framework for the issuance and operation of payment stablecoins in the United States. It limits the issuance of these assets to "permitted payment stablecoin issuers," who must maintain a 1-to-1 reserve of highly liquid assets. The bill creates a system of federal and state oversight, requiring monthly certifications and annual audits for larger issuers. It also implements strict anti-money laundering and sanctions compliance standards for issuers. Additionally, the Act prohibits the payment of interest to stablecoin holders and restricts certain public companies from issuing stablecoins without special committee approval.
Yes· 3 of 4
- Scored +7
Does this protect people from being watched or searched?
The bill improves privacy rights by implementing consumer data protection and limiting usage of consumer data.
- Scored +7
Does this give people more protection from unfair business practices?
The bill mandates transparent redemption policies and fees, increasing consumer protection in the stablecoin market.
- Scored +7
Does this give people more control over their personal data?
The bill includes consumer data protection measures, limiting the use of nonpublic personal information for targeted advertising, sales to third parties, or sharing with non-affiliates without consent, enhancing data privacy.
The opposite
No question was scored the opposite.
What Congress actually voted on
6 recorded votes have been taken on this bill. 3 of them decided something; the rest moved it along.
- The Senate: a vote to end debate and allow a final vote In the Senate, debate can continue indefinitely unless 60 senators vote to end it. This vote is that attempt. It decides whether the Senate may vote on the thing at all — not whether the thing passes. A failed cloture vote usually ends the matter without anyone ever voting on its merits. Blocked 48 yes · 49 no
05/08/2025 · Roll call 240 · recorded as “On Cloture on the Motion to Proceed S. 1582”
- The Senate: the vote on whether to pass the bill This is the real decision in this chamber. Passing here sends the bill to the other chamber, which must pass it too before it can go to the President. Passed 68 yes · 30 no
06/17/2025 · Roll call 318 · recorded as “On Passage of the Bill S. 1582”
- The House: the vote on whether to pass the bill This is the real decision in this chamber. Passing here sends the bill to the other chamber, which must pass it too before it can go to the President. Passed 308 yes · 122 no
07/17/2025 · Roll call 200 · recorded as “On Passage”
- The Senate: a vote to end debate and allow a final vote In the Senate, debate can continue indefinitely unless 60 senators vote to end it. This vote is that attempt. It decides whether the Senate may vote on the thing at all — not whether the thing passes. A failed cloture vote usually ends the matter without anyone ever voting on its merits. Cloture on the Motion to Proceed Agreed to 66 yes · 32 no
05/19/2025 · Roll call 262 · recorded as “On Cloture on the Motion to Proceed S. 1582”
- The Senate: a vote on whether to start debating something This decides only whether the chamber takes the measure up at all. Nothing about the measure itself has been decided when it passes. Motion to Proceed Agreed to 69 yes · 31 no
05/21/2025 · Roll call 263 · recorded as “On the Motion to Proceed S. 1582”
- The Senate: a vote to end debate and allow a final vote In the Senate, debate can continue indefinitely unless 60 senators vote to end it. This vote is that attempt. It decides whether the Senate may vote on the thing at all — not whether the thing passes. A failed cloture vote usually ends the matter without anyone ever voting on its merits. Cloture Motion Agreed to 67 yes · 27 no
06/12/2025 · Roll call 312 · recorded as “On the Cloture Motion S. 1582”
Who it would affect, and how
Potential Positive Impacts for People
-
Asset Security: Issuers must maintain identifiable reserves backing stablecoins on at least a 1-to-1 basis using liquid assets like U.S. currency and Treasury bills, which helps ensure the stablecoin maintains its value (Section 4(a)(1)(A)).
-
Transparency: Issuers are required to publicly disclose their redemption policies, including fees, and publish the monthly composition of their reserves on their website (Section 4(a)(1)(B) and (C)).
-
Consumer Protection from Fraud: Individuals convicted of felonies involving financial fraud, money laundering, or embezzlement are prohibited from serving as officers or directors of a payment stablecoin issuer (Section 4(f)(1)).
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Privacy Protections: Public companies not primarily engaged in financial activities must comply with data limitations that prevent nonpublic personal information from stablecoin data being sold to third parties or used for targeted advertising without consumer consent (Section 4(a)(12)(B)(i)(II)).
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Financial Stability: The Act prohibits the use of deceptive names that might lead a reasonable person to believe a stablecoin is legal tender or guaranteed by the U.S. Government (Section 4(a)(9)).
Potential Negative Impacts for People
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Limited Access to Issuers: It is unlawful for anyone other than a "permitted payment stablecoin issuer" to issue a payment stablecoin in the U.S., which restricts who can provide these services (Section 3(a)).
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Loss of Yield: The Act explicitly prohibits issuers from paying any form of interest or yield to the holder of a payment stablecoin (Section 4(a)(11)).
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Financial Penalties: Individuals who knowingly participate in the unlawful issuance of a payment stablecoin can face fines up to $1,000,000 and up to 5 years in prison (Section 3(f)(1)).
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Trading Restrictions: Digital asset service providers are prohibited from facilitating secondary trading of stablecoins issued by foreign issuers designated as "noncompliant" by the Secretary of the Treasury (Section 8(b)(1)(B)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Governance And Ideology
- Does this protect people from being watched or searched? — The bill improves privacy rights by implementing consumer data protection and limiting usage of consumer data. Does this give the federal government more power? — The bill establishes a federal regulatory framework for payment stablecoins, increasing federal power in financial regulation.
- Economy And Finance
- Does this give people more protection from unfair business practices? — The bill mandates transparent redemption policies and fees, increasing consumer protection in the stablecoin market.
- Education And Technology
- Does this give people more control over their personal data? — The bill includes consumer data protection measures, limiting the use of nonpublic personal information for targeted advertising, sales to third parties, or sharing with non-affiliates without consent, enhancing data privacy.
- Public Law (7/19/2025)
The text as it became law
- Enrolled Bill
The final version, on its way to the President
Michael Bennet (D-CO)· Jun 9, 2025
S.Amdt. 2278: To provide a definition.
Withdrawn
SA 2278 fell when SA 2228 withdrawn.
Bill Hagerty (R-TN)· Jun 12, 2025
S.Amdt. 2307: In the nature of a substitute.
Adopted
6730
John Thune (R-SD)· Jun 12, 2025
S.Amdt. 2308: To improve the bill.
Withdrawn
Proposed amendment SA 2308 withdrawn in Senate.
John Thune (R-SD)· Jun 12, 2025
S.Amdt. 2309: To improve the bill.
Withdrawn
SA 2309 fell when SA 2308 withdrawn.
John Thune (R-SD)· Jun 12, 2025
S.Amdt. 2310: To improve the bill.
Withdrawn
Proposed amendment SA 2310 withdrawn in Senate.
John Thune (R-SD)· Jun 12, 2025
S.Amdt. 2311: To improve the bill.
Withdrawn
SA 2311 fell when SA 2310 withdrawn.
John Thune (R-SD)· Jun 11, 2025
S.Amdt. 2312: To improve the bill.
Withdrawn
SA 2312 (the instructions of the motion to commit) fell when cloture was invoked on amendment SA 2307.
John Thune (R-SD)· Jun 11, 2025
S.Amdt. 2313: To improve the bill.
Withdrawn
SA 2313 fell when SA 2312 fell.
John Thune (R-SD)· Jun 11, 2025
S.Amdt. 2314: To improve the bill.
Withdrawn
SA 2314 fell when SA 2313 fell.
- 7/18/2025
- Signed by President.
- Became Public Law No: 119-27.
- 7/17/2025
- Presented to President.
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200).
- On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200). (text: CR H3405-3418)
- Considered as unfinished business. (consideration: CR H3449-3450)
- POSTPONED PROCEEDINGS - At the conclusion of debate on S. 1582, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
- The previous question was ordered pursuant to the rule.
- DEBATE - The House proceeded with one hour of debate on S. 1582.
- Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
- Considered under the provisions of rule H. Res. 580. (consideration: CR H3405-3427)
- 7/16/2025
- Rule H. Res. 580 passed House.
- 7/15/2025
- Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
- 6/23/2025
- Message on Senate action sent to the House.
- Held at the desk.
- Received in the House.
- 6/17/2025
- Considered by Senate. (consideration: CR S3418-3432)
- Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 68 - 30. Record Vote Number: 318.
- Passed Senate with an amendment by Yea-Nay Vote. 68 - 30. Record Vote Number: 318. (text: CR S3419-3432)
- 2 Cosponsors added.
- 6/12/2025
- Considered by Senate. (consideration: CR S3366-3367)
- Cloture on the bill, as amended invoked in Senate by Yea-Nay Vote. 67 - 27. Record Vote Number: 312.
- 6/11/2025
- Considered by Senate. (consideration: CR S3335-3336)
- Motion by Senator Thune to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with the following amendment (SA 2312) fell when cloture was invoked on amendment SA 2307 in Senate.
- 6/9/2025
- Considered by Senate. (consideration: CR S3275-3277)
- Cloture motion on the bill presented in Senate. (CR S3276)
- Motion by Senator Thune to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with the following amendment (SA 2312) made in Senate.
- 6/2/2025
- Considered by Senate. (consideration: CR S3155-3156)
- 5/21/2025
- Motion to proceed to measure considered in Senate. (CR S3017)
- Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 69 - 31. Record Vote Number: 263.
- Measure laid before Senate by motion. (consideration: CR S3025)
- 5/20/2025
- Motion to proceed to measure considered in Senate. (CR S2983)
- 5/19/2025
- Second cloture motion on the motion to proceed invoked in Senate by Yea-Nay Vote. 66 - 32. Record Vote Number: 262. (CR S2965)
- Cloture motion on the motion to proceed rendered moot in Senate.
- Motion by Senator Thune to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 240) rendered moot in Senate.
- 5/15/2025
- Motion to proceed to consideration of measure made in Senate.
- Second cloture motion on the motion to proceed presented in Senate. (CR S2947)
- 5/12/2025
- Motion to proceed to consideration of measure made in Senate. (CR S2847)
- 5/8/2025
- Motion to proceed to consideration of measure made in Senate. (CR S2814)
- Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 48 - 49. Record Vote Number: 240. (CR S2823)
- Motion by Senator Thune to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 240) made in Senate.
- 5/7/2025
- 1 Cosponsor added.
- 5/6/2025
- Motion to proceed to consideration of measure made in Senate. (CR S2772)
- Cloture motion on the motion to proceed to the measure presented in Senate. (CR S2772)
- 5/5/2025
- Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 66.
- 5/1/2025
- Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
- 2 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Cynthia LummisRepublican · Wyoming
Bernie MorenoRepublican · Ohio
- Pete Ricketts
Republican · Nebraska
Tim ScottRepublican · South Carolina
Dan SullivanRepublican · Alaska