BIG Crypto Update
If you spend, save, or invest in crypto, then you should know that the landscape is changing. There are laws being voted on and passed, the first of which is The GENIUS Act.
What is The GENIUS Act?
On July 18, 2025, the U.S. government passed the GENIUS Act, or the “Guaranteeing Essential National Infrastructure in US-Stablecoins” Act. This is a major bill that sets the rules for stablecoins for the first time. Stablecoins are cryptocurrencies, like USDC, that are linked to the U.S. dollar.
Key Parts of The GENIUS Act:
Stablecoins have existed for over a decade, serving as a bridge between traditional finance and the crypto world. But until now, there’s never been a clear legal framework governing their use. This new law marks a pivotal moment.
Here are five key provisions worth noting:
- Only established financial institutions can issue stablecoins.
- Stablecoins must be fully backed by cash or U.S. Treasuries.
- Issuers must publish monthly reports and yearly audits.
- Stablecoin issuers provide protection if the issuer files for bankruptcy.
- Confirms that stablecoins are not considered securities.
This law is a major win for the credibility and transparency of stablecoins and is good news for anyone who uses crypto to save, spend, or send money.
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What’s Next for Stablecoins and Crypto Law
The House also just passed two more crypto bills:
- Digital Asset Market Clarity Act of 2025: The CLARITY Act would clearly define which cryptocurrencies are regulated as commodities versus securities. That’s been a big question for years.
- H.R. 1919, the Anti-CBDC Surveillance State Act: The Anti-CBDC Act would prevent the U.S. from issuing its own digital dollar, citing privacy concerns.
Both of these bills are now going to the Senate.
Why Crypto Laws Matter
All of these bills could significantly shape the future of crypto in the U.S., from how it’s regulated to how it’s used in everyday life. The GENIUS Act creates clear, enforceable rules around stablecoins, helping ensure that the digital dollars you hold are backed, audited, and legally protected. The Clarity Act, if passed, would finally give projects and investors a clear roadmap on which agency governs which types of crypto assets, eliminating the legal gray areas that have slowed innovation. And the Anti-CBDC Act addresses growing concerns around government-issued digital currencies, signaling strong support for private innovation and personal privacy.
Together, these developments represent a major step toward mainstream adoption. They bring stronger protections, more transparency, and a clearer regulatory path, not just for institutions, but for everyday users. Whether you’re brand new to crypto or have been here for years, these changes are laying the foundation for a safer, more accessible, and more trusted digital economy in the U.S.
Stay tuned for more updates!
Author: Mohammed Bari | [email protected]
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For more information on this topic, please contact a member of Withum’s Digital Currency and Blockchain Technology Services Team.
