The United States has just engraved in its legislative marble a decisive page in modern monetary history. By approving the Genius law, the American Senate formalizes the entry of the token dollar in legality. It is a turning point for digital finance, and a strong signal launched to the rest of the world: the first economic power is finally organized around the stablecoins, these tokens leaning against the dollar which upset payments, exchanges and monetary sovereignty. Let's take a look at the significant facts of this advance.
In short
- The Senate adopts the Genius law, the first federal legal framework dedicated to stablecoins.
- Each stablecoin must be backed by the dollar and audited each month.
- Banks, fintechs and regulated traders can now legally emit their own stable.
Genius law: Stablecoins win their official framework
On June 11, 2025, the American Senate voted by 68 votes against 30 To start the procedure ofAdoption of the Genius (Guiding and Establishing National Innovation for US Stablecoins Act) law). This first vote was not yet a final adoption, but a closing vote. He aimed to block the filibusters, these parliamentary obstruction tactics, and to allow the holding of a final vote.
The latter was held a few days later, confirming by the same score an adoption in plenary sessionessential step to officially send the text to the House of Representatives. The Senate has therefore endorsed a national framework for stablecoinsthese Crypto-assets indexed to the dollar.
The obligations are clear: Each token must be 100 % backed by a dollar reserveverified by monthly audits. Moreover, Any transmitter will have to comply with anti-flow (AML) and Know Your Customer (KYC) regulations. The initiative covers banks, fintechs but also commerce giants, provided they are regulated. Large non -financial techs cannot directly issue Stablecoins.
The text Specific:
A registered transmitter is required to guarantee the convertibility of each stablecoin unit into US dollar at any time.
These few words are worth revolution. No more regulatory blur, make way for an architecture where the digital dollar can coexist with the crypto economywithout antagonism.
Political power and crypto empire: the back of the American dream
Behind the institutional momentum hides A more troubled dynamic. The Genius bill is also An electoral and financial issue for Donald Trump. In 2024, he affected $ 57 million via World Liberty Financial and held nearly 16 billion WLFI tokens, according to his financial declaration. Part of this income comes from sales of tokens linked to the presidential image.
The original text wanted Prohibit any federal elected official and their families from taking advantage of the stablecoins. This amendment has never been submitted to the vote. Democrats denounce an orchestrated maneuver to legitimize Trump's crypto affairs. Senator Merkley said:
These laws legitimize what looks like a massive scam draped in the American flag.
Critics are also sticking to the way. The project first failed In the Senate, before returning after intense negotiations. Senator Cynthia Lummis has recognized:
I didn't think it would be so difficult.
However, despite the tensions, the text has passed. Proof that crypto interests make their way in political cogs.
Stablecoins redraw the power of the digital dollar
Stablecoins are no longer simple geek tokens. They have become strategic tools, used by payment giants and the banks themselves.
Key figures:
- $ 28,000 billion in stablecoin transaction volume in 2023, according to Deutsche Bank;
- More than 86 % of the Stablecoin market is indexed to the dollar (USDC, USDT), according to Defillama;
- $ 250 million invested by the Crypto sector to support the 2024 congress, according to analysts;
- JPMorgan launches JPMD, a token of deposit issued on a base (Coinbase), intended for institutional;
- Shopify, via Coinbase and Stripe, already offers payments in USDC on its platform.
The adoption is very real. Even the boss of Okx USA, Roshan Robert, Salves a turning point ::
The law creates a vital bridge to explore the payments powered by the blockchain.
Stablecoins become theInterface between traditional finance and crypto innovation.
According to Mike Cahill de Douro Labs, ” If the United States succeeds in this bet, it will not only lead the Crypto market, it will write the rules of the future global financial system ».
The world is burning rumors at the end of the hegemony of the dollar. Some speak of dedollarization, others of emergence of the digital yuan. But another way opens: the stable dollar. It is programmable, traceable, and now backed by a federal law. A strategic tool. And perhaps, the last mutation of an aging currency. This is not an investment council.
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