Contact Congress about S. 394: GENIUS Act of 2025
Companies could not issue U.S. dollar stablecoins unless regulators approve them. They would have to keep safe reserves for every coin and give coin holders first claim if the issuer fails.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
GENIUS Act of 2025 is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Latest action on S. 394: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who this affects: This bill mainly affects companies that issue or hold payment stablecoins for customers. It also affects people and businesses that use stablecoins, because it changes who can issue them and how safe their backing must be. Banks, crypto firms, financial technology companies, state regulators, federal banking regulators, and stablecoin custodians would all face clearer rules. Some smaller firms could face higher costs to comply.
Why this matters: Stablecoins are used to move money, trade crypto, and make some payments, but the rules are still uneven. This bill would set one main system for U.S. dollar payment stablecoins. It aims to lower the risk that a coin loses its dollar value or that users cannot get their money back. It could also decide how much room states, banks, and crypto firms have to shape this market.
Key provisions in S. 394
- Only approved payment stablecoin issuers could legally issue payment stablecoins in the United States. These could be licensed bank subsidiaries, qualifying nonbank firms, or approved state issuers.
- Issuers must keep at least one dollar in reserve for every payment stablecoin they have out. Reserves must be approved safe assets, such as cash, certain bank deposits, short-term U.S. Treasury debt, central bank deposits, and certain money market funds.
- Issuers generally could not reuse reserve assets for other deals. The bill allows only narrow uses to meet redemptions, and issuers must report reserve details and coins outstanding each month.
- An issuer's chief executive officer and chief financial officer must certify the monthly reserve reports. If they knowingly certify false reports, they can face criminal penalties under existing federal law.
- Issuers must meet rules for capital, cash on hand, risk controls, operations, and anti-money-laundering compliance. Regulators would tailor those rules to the issuer's risk.
How Modern Action helps you take action on S. 394
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Questions people ask about S. 394
- What is S. 394?
- Companies could not issue U.S. dollar stablecoins unless regulators approve them. They would have to keep safe reserves for every coin and give coin holders first claim if the issuer fails.
- How do I support or oppose S. 394?
- Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.
- Who should I contact about S. 394?
- Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.
- Can Modern Action explain S. 394 before I act?
- Yes. Modern Action gives you a plain-English summary, current status, and action context before you send anything.
