The US Senate has officially initiated the debate process for the Government and Enterprise Need for Innovation in the United States Act (GENIUS Act), a crucial piece of legislation aimed at establishing clearer regulations for stablecoins. The bill passed its initial vote with a strong majority, reflecting bipartisan support for creating more defined rules for this vital asset class. The GENIUS Act mandates that stablecoin issuers maintain high-quality liquid assets like US Treasuries or insured deposits to ensure full backing for all liabilities. This new regulatory framework also prohibits yield-bearing stablecoins and imposes stringent Know-Your-Customer (KYC) procedures, suspicious activity monitoring, and anti-money laundering controls. The bill will now enter the amendment stage, allowing senators to propose and review changes before a final vote. Meanwhile, the House has reintroduced the Blockchain Regulatory Certainty Act. This bill seeks to provide legal protection for blockchain developers by offering them a federal safe harbor from prosecution unless they control user digital assets. This measure ensures that service providers who focus on blockchain software development are not classified as money transmitters or financial institutions solely for providing these services. The House has yet to set a vote date, but the reintroduction of this bill signals a strong push towards clarifying the distinction between custodial and non-custodial roles in the digital asset space. The Senate’s GENIUS Act and the House’s Blockchain Regulatory Certainty Act reflect ongoing efforts by lawmakers to establish clear frameworks for blockchain technology and digital assets, which may significantly impact how stablecoins and blockchain software operate under federal and state laws.