GENIUS Act
Creates the first federal rules for payment stablecoins (digital tokens pegged to the dollar). Issuers need a license, must back every token one-for-one with cash or short-term Treasury debt, and must publish their reserves every month.
What this law changes
From a secondary sourceCreates the first federal rules for payment stablecoins (digital tokens pegged to the dollar). Issuers need a license, must back every token one-for-one with cash or short-term Treasury debt, and must publish their reserves every month.
This account is written from the official description of the bill. We have saved the law's official text and have not finished checking the account against it.
Transparency Score
The Transparency Score is the share of this law’s dollars that goes to what the law says it is for.
Transparency Score
Not checked yetThe score appears after a person reviews which sections are within the stated purpose.
2 amounts adding up to $20,000,000,000 could not be sorted by the rules. That is more than 10 percent of the dollars read, so the total is not given as checked. 1 figure is written into other laws ("striking $X and inserting $Y"). What such a figure does is set by the other law, so it is listed and left out of the total.
How this is counted
- Transparency Score: dollars in sections a person approved as within the stated intent, divided by total dollars in the law. Shown as a percentage. Higher means more of the money goes to what the law says it is for.
- Beside it, the same two numbers the other way round: total dollars divided by dollars within the stated intent. 1.00 means every dollar is within the stated intent. When no dollar is within the stated intent this ratio cannot be computed, and the answer says so.
- Total dollars: appropriated dollars plus authorized dollars, read from the law's text by the rules below. Dollars in a section whose reading is unclear or was not read count in the total and are shown apart as unclear.
- A law whose text provides and authorizes no dollar amount reads "No money in this law". Its score is the share of its words that are in sections within the stated intent.
- The score reads "Not checked yet" until a person approves the law's reading of which sections are within the stated intent. The dollar totals need no reading and are shown before that.
- The dollar totals read "Not checked yet" when more than 10 percent of the dollars read could not be sorted by the rules.
- Every dollar amount in our saved text of the law is read: "$1,234,567", "$5 billion", "$2.5 million". Margin notes, page marks and the table of contents are left out. Each amount is kept with the words printed around it.
- Appropriated: the sentence says "there is appropriated", "is hereby appropriated" or "out of any money in the Treasury not otherwise appropriated"; or the amount is the one an appropriations paragraph ("For ..., $X") provides under an account heading of an appropriations act.
- Authorized: the sentence says "authorized to be appropriated". An authorization lets a later law provide the money. It provides none itself.
- A list under such a sentence ("there is appropriated the following: (1) ...; (2) ..."): an amount that begins an item is counted the same way as the sentence says, unless the sentence gives a total first. Then the items are parts of that total.
- "$X for each of fiscal years 2026 through 2030" is counted as X times the number of years named (here 5). The yearly figure, the years and the product are all kept. "For each fiscal year" with no years named is counted once, and the answer says so.
- Open-ended: "such sums as may be necessary" names no amount. It is counted as an item and adds no dollars.
- Rescinded: "is hereby rescinded", "permanently cancelled", or an item of a list headed "the following funds are hereby rescinded". Shown apart. Not subtracted from the total.
- Not spending, and left out of the total: an amount after "not to exceed", "not more than", "up to", "less than", "in excess of" and like words; a fine or penalty; a limit the law raises ("the limitation is increased by $X"); a figure the law strikes from another law; and a figure inside words it writes into another law ("striking $X and inserting $Y"), unless the same sentence says the figure is authorized or appropriated.
- Counted once: an amount after "of which", after "Provided, That", or after "of the amounts made available" is a part of a total already counted. Where a paragraph ends "in all, $X", that total is counted and the amounts before it are its parts.
- An amount the rules cannot sort is "not classified". It is listed with its words and left out of the total. Nothing is guessed.
- Total dollars: appropriated dollars plus authorized dollars. The two are also shown apart.
What the law says it is for
Confirmed from the official recordThese are the law’s own words, and the words of Congress’s records, about what the law is for.
Official title
“To provide for the regulation of payment stablecoins, and for other purposes.”
The words under "An Act", Public Law 119-27, official text · Saved October 5, 2026 · Fingerprint ebe440e8fec4c115
Congress's summary · Congressional Research Service
“Guiding and Establishing National Innovation for U.S. Stablecoins Act or the GENIUS Act This act establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value). Under the act, only permitted issuers may issue a payment stablecoin for use by U.S. persons, subject to certain exceptions and safe harbors. 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.”
The quote stops here. The source has the full text.
Summary of the version: Public Law, Congressional Research Service summary: Public Law · Saved October 6, 2026 · Fingerprint b678493c83aaf6b6
The law's text gives it no short title.
The law has no findings or purpose section.
The bill's record names no committee report.
Dollars in this law
Not checked yetThe text of this law provides and authorizes no dollar amount.
2 amounts adding up to $20,000,000,000 could not be sorted by the rules. That is more than 10 percent of the dollars read, so the total is not given as checked. 1 figure is written into other laws ("striking $X and inserting $Y"). What such a figure does is set by the other law, so it is listed and left out of the total.
Left out of the total
- 16 amounts are limits, thresholds or penalties. They are not spending.
- 1 figure is written into another law. What such a figure does is set by the other law.
- 2 amounts, $20,000,000,000 in all, could not be sorted by the rules. They are listed and left out of the total.
Sentences with dollar figures in Congress’s summary
These sentences come from the summary of this law by the Congressional Research Service, a part of the Library of Congress.
“Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less.”
“Knowing violations of this requirement shall be subject to a fine of up to $1 million for each violation, up to 5 years imprisonment, or both.”
“Large issuers (those with more than $50 billion in consolidated total outstanding issuance) must publish an audited annual financial statement in accordance with generally accepted accounting principles.”
“A state qualified payment stablecoin issuer with a consolidated total outstanding issuance of not more than $10 billion may opt for state regulation if such regulation is substantially similar to the federal regulatory framework under this act.”
“The section specifies that payment stablecoin issuers with less than $10 billion in consolidated total outstanding issuance are subject to federal supervision if they are not state qualified payment stablecoin issuers.”
“(Sec. 19) This section requires certain federal employees to disclose holdings over $5,000 of permitted payment stablecoins as part of required financial disclosures.”
Source: Congressional Research Service summary: Public Law · Saved October 6, 2026 · Fingerprint b678493c83aaf6b6
Source: Public Law 119-27, official text · Saved October 5, 2026 · Fingerprint ebe440e8fec4c115
Other measures
Each measure has its own status. None is added into the score.
- Dollars in sections added along the way
- Not checked yet
Congress published no introduced text of this bill. The comparison starts from the earliest text it published: Placed on Calendar Senate, May 5, 2025.
- Member-requested dollars as a share of appropriated dollars
- Not checked yet
No list of member-requested spending is printed in the 203 official records saved for this law, and no committee report says there is none.
- Open-ended amounts (“such sums as may be necessary”)
- 0 passagesConfirmed from the official record
- Other bills whose text this law contains
- 0 billsConfirmed from the official record
- How the House passed it
- Recorded vote: 308 Yes, 122 No, 0 Present, 2 Did not vote, July 17, 2025Confirmed from the official record
- How the Senate passed it
- Recorded vote: 68 Yes, 30 No, 0 Present, 2 Did not vote, June 17, 2025Confirmed from the official record
- Committee report saved
- None in the official recordConfirmed from the official record
The bill's official record names no committee report.
- Hearing saved
- None in the official recordConfirmed from the official record
The bill's official record names no hearing.
How these are counted
- Added along the way, sections: sections of the final law marked "added later", divided by the sections compared.
- Added along the way, words: words in those sections, divided by the words in the sections compared.
- Each text is read as a list of words. A run is 5 words in a row. For each section of the final law we count the share of its runs that appear anywhere in the first published text of the bill. 90 percent or more: in the first text. From 20 to 90 percent: changed. Under 20 percent: added later. A section with fewer than 20 words is not compared.
- Sections outside the stated intent: sections a person approved as outside the stated intent, divided by the sections read. The same count is given in words.
- Member-requested spending: the number of items in the lists Congress printed for the law, and the sum of their dollar amounts.
- A part that is not checked yet is shown as "Not checked yet". It is never counted as zero. No single blended number is given.
Added along the way
Confirmed from the official record1 of the 20 sections compared is added after the first published text of the bill. 8 are changed. 11 are in the first text.
A section counts as added later when under 20 percent of its wording appears in the first published text.
Congress published no introduced text of this bill. The comparison starts from the earliest text it published: Placed on Calendar Senate, May 5, 2025.
The first published text (Placed on Calendar Senate, May 5, 2025): S. 1582, Placed on Calendar Senate · Saved October 7, 2026 · Fingerprint 07c4d7f8a96ce659
Published texts of this bill, in order: Placed on Calendar Senate (May 5, 2025), Engrossed in Senate (June 17, 2025), Enrolled Bill.
Sections added later
1 section
- Section 19: DISCLOSURE RELATING TO PAYMENT STABLECOINS49 words
Amendments adopted
1 adopted of 130 listed for this bill
- S.Amdt. 2307Replaces the whole text of the bill
Sponsor: Sen. Hagerty, Bill [R-TN]. The Senate adopted it on June 12, 2025, by recorded vote, 67–30.
In the nature of a substitute.
An adopted amendment in the nature of a substitute replaces the whole text of the bill. Its sponsor is named here. It is not tied to single sections.
Other bills whose text this law contains
The Congressional Research Service marks no other bill as one whose text this law contains.
Member-requested spending
No list foundNo list of member-requested spending is printed in the 203 official records saved for this law, and no committee report says there is none.
Sections outside the stated intent
Not checked yetA person reviews each reading before it appears here.
On the record
On the record: Not started.
Press releases by members of Congress
From a secondary sourceThese are press releases from members' official websites that name this law. We save a copy of each one.
12 press releases
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Scalise’s End-of-Year Recap: One Year of Republicans Delivering on our Promises
“S. 1582 (Sen. Hagerty) – GENIUS Act: Puts in place a clear regulatory framework for U.S. payment stablecoins, fostering innovation and growth, prioritizing protections for consumers, creating a significant source of demand for U.S. Treasuries, and ensuring the U.S. dollar remains the dominant global currency.”
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Scalise’s Summer Update: Six Months of Winning for the American People
“S. 1582 (Sen. Hagerty) – GENIUS Act: Puts in place a clear regulatory framework for U.S. payment stablecoins, fostering innovation and growth, prioritizing protections for consumers, creating a significant source of demand for U.S. Treasuries, and ensuring the U.S. dollar remains the dominant global currency.”
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Congresswoman Budzinski Statement on Vote to Regulate Digital Assets and Protect Consumers
“Today, Congresswoman Nikki Budzinski (IL-13) issued the following statement after voting to pass the CLARITY Act, H.R. 3633, and the GENIUS Act, S. 1582.”
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Congresswoman Simon Statement on S. 1582 and H.R. 3633
“Washington, D.C. – Today, Congresswoman Lateefah Simon (D-CA-12) released the below statement following her vote on S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act) and H.R. 3633, the Digital Asset Market Clarity Act of 2025 (CLARITY Act).”
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Scott Votes Against Crypto Legislation
“WASHINGTON, D.C. – Congressman Bobby Scott (VA-03) issued the following statement after voting against H.R. 3633, the Digital Asset Market Clarity Act of 2025, S. 1582, the GENIUS Act, and H.R. 1919, the Anti-CBDC Surveillance State Act:”
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Congresswoman Pou Votes on Cryptocurrency Bills
“WASHINGTON, DC – Congresswoman Nellie Pou (D-NJ-09) today on the House of Representatives voted on three pending bills involving expansion of cryptocurrencies in America: H.R. 3633, Digital Asset Market Clarity (CLARITY) Act, S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, and H.R. 1919, Anti-CBDC Surveillance State Act, voting in favor of the first two, which”
Show all 12
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Congresswoman Brown Statement on the GENIUS and CLARITY Acts
“Washington, D.C. – Congresswoman Shontel Brown (OH-11) releases the following statement on the GENIUS Act (S. 1582) and the CLARITY ACT (H.R. 3633):”
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Rep. Roy's Statement on Votes on Digital Assets Legislation
“Washington, D.C. — Representative Chip Roy (TX-21) issued the following statement after the House passed S. 1582, the GENIUS Act, H.R. 3633, the CLARITY Act, and H.R. 1919, the Anti-CBDC Surveillance State Act:”
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“S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) Act, establishes a federal framework for U.S. dollar-backed stablecoins, ensuring they’re safely issued, fully backed, and tightly regulated to protect consumers while preserving the dollar’s global dominance in digital payments.”
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Congressman Haridopolos Applauds House Passage of Key Cryptocurrency Bills
“H.R. 3633, The Digital Asset Market Clarity Act, S. 1582, the GENIUS Act, and H.R. 1919, the Anti-CBDC Surveillance State Act all passed the House this week as part of “Crypto Week,” marking what Haridopolos called “a critical step forward in making the United States the center of financial innovation again.”
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Rep. Yakym Celebrates Crypto Week with the Passage of Pro-CryptoLegislation
“WASHINGTON, D.C. – Today, Congressman Rudy Yakym (IN-02) voted in favor of three pro-crypto pieces of legislation, the Anti-CBDC Surveillance State Act (H.R. 1919), the CLARITY Act (H.R. 3633), and the GENIUS Act (S. 1582).”
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Senator Andy Kim Statement on GENIUS Act
“WASHINGTON D.C. – Senator Andy Kim released the following statement as the Senate considers S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act:”
Read from 539 of 539 members' sites, releases since January 3, 2025, through October 7, 2026.
Press releases by organizations
No saved press release from these organizations names this law.
Read from 510 of 510 organizations' sites, releases since January 3, 2025, through October 7, 2026.
What it touches
Kind of law: New or changed rules. Budget effect: No direct effect on agency budgets.
Government
- Laws and regulations
- Technology, algorithms and surveillance
The economy
- Digital assets
- Banking and credit
Daily life
- Household budget
- Privacy and online life
Agencies it funds or directs
Dollar amounts:Not checked yetHow it passed
The Senate passed it 68 to 30 on June 17, 2025, with 2 senators who did not vote.
The House passed it 308 to 122 on July 17, 2025, with 2 members who did not vote.
The question on the official record: House, “On Passage”. Senate, “On Passage of the Bill (S. 1582, As Amended)”.
| Chamber and party | Yes | No | Present | Did not vote |
|---|---|---|---|---|
| House Republicans | 206 | 12 | 0 | 2 |
| House Democrats | 102 | 110 | 0 | 0 |
| Senate Republicans | 50 | 2 | 0 | 1 |
| Senate Democrats | 18 | 26 | 0 | 1 |
| Senate independents | 0 | 2 | 0 | 0 |
How each member votes
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Lobbying reports that name this bill
Confirmed from the official record29 saved lobbying reports name S. 1582. The amount is what the report gives for the whole quarter: everything the registrant did for that client, all issues together. A linked name opens that organization’s page on this site.
| Registrant | Client | Amount for the whole quarter | Quarter | Report |
|---|---|---|---|---|
| TRANSPARENCY INTERNATIONAL U.S. (A PROJECT OF THE FUND FOR CONSTITUTIONAL GOVT) | TRANSPARENCY INTERNATIONAL U.S. (A PROJECT OF THE FUND FOR CONSTITUTIONAL GOVT) | $40,000.00reported as expenses | April to June 2026 | Open the report |
| INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS | INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS | $170,000.00reported as expenses | April to June 2026 | Open the report |
| CROSSROADS STRATEGIES, LLC | DEFENSE CREDIT UNION COUNCIL | $60,000.00reported as income | April to June 2026 | Open the report |
See the 29 listed reports that name S. 1582
Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.
Lobbying Disclosure Act reports, LDA.gov. This copy was read October 7, 2026 at 4:39 PM Eastern.
Where this comes from
We saved our own copy of each official vote file listed here before writing this page. A code beside a file is its fingerprint, a short code that changes if the file's contents change.