Revised GENIUS Stablecoin Bill Heads to Senate with Big Tech Restrictions

The US Senate is set to vote next week on an amended version of the GENIUS Act, a legislative proposal targeting stablecoin regulation. The revised bill addresses earlier concerns from Democratic lawmakers, including gaps in anti-money laundering safeguards and oversight of foreign issuers.

Key amendments tighten financial integrity provisions and introduce explicit barriers against large technology companies issuing stablecoins. National security protections have been reinforced, with new language addressing potential risks from foreign-controlled stablecoin projects.

The legislative push comes amid growing scrutiny of stablecoins’ role in payments and financial markets. By restricting Big Tech’s participation, the bill aims to prevent corporate dominance over monetary infrastructure while maintaining room for compliant cryptocurrency innovation.