U.S. Senate updates stablecoin bill GENIUS Act 2025: Expanding reciprocity clauses for overseas payments

PANews reported on March 11 that according to the latest "Guiding and Establishing the Innovation Act of the United States Stablecoins (GENIUS Act 2025) released by the U.S. Senate, the updated bill specifically expands the "Reciprocity for Payment Stablecoins Issued in Overseas Jurisdictions". The U.S. Treasury Secretary was asked to reach bilateral agreements with countries with similar stablecoin regulatory frameworks to ensure coordination of reserve requirements, oversight, anti-money laundering and counter-terrorism measures, sanctions compliance standards, liquidity requirements and risk management standards. The reciprocity arrangement needs to be completed within two years of the bill's entry into force to facilitate international transactions and enhance interoperability with USD-denominated overseas payment stablecoins.

In addition, the bill clearly excludes licensed payment stablecoin issuers from the scope of "commodities" defined in the Commodity Exchange Act, and further clarify regulatory responsibilities.