The GENIUS Act in 5 numbers

It now heads to the House, where it must be reconciled with the lower chamber’s own stablecoin bill, the STABLE Act.
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Here are five key figures that capture the essence of the bill:

68

The number of Senators who voted “Yea”.
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Eighteen Democrats joined in support of the bill and just two Republicans - Rand Paul (KY) and Josh Hawley (MO) - voted against it.
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Three Senators flipped their votes to “Yea” in the May 21 cloture vote: Raphael Warnock (D-GA), Jerry Moran (R-KS), and Mark Kelly (D-AZ).

1:1

The mandated reserve ratio for stablecoins issued under the Act, requiring full backing by liquid assets.
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Issuers will also be subject to routine audits and must comply with Anti-Money Laundering rules.

102(a)

The section of the Act that grants the Treasury wide-ranging authority to issue rules for carrying out its provisions.
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For a deeper dive into particular sections, check out TRM Labs' latest blog post.

$250M

The amount of money donated in the 2024 election cycle to elect the most pro-crypto Congress in U.S. history.
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Passage of the GENIUS Act was in large part a direct result of this funding, led by pro-crypto advocacy group Stand With Crypto.

60%

The percentage of all crypto transaction volume attributed to stablecoins at the time of passage.

This is up from just 35% two years ago.
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Words: Geoffrey Lyons
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