Law in the US could restrict Meta, Amazon and Google to issue their own stablecoins

By Hannah Pérez

A draft Genius bill of the United States Senate, which has been circulating in networks, reveals a clause that would seek to prevent technological giants from creating their own Stablecoins.

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• Draft genius law includes clause that limits that technological giants emit Stablcoins.
• The Democrats and Republicans of the US Senate. UU. Stablecoins bill discusses.
• They are applying amendments after the Democrats demanded stricter norms.
• There is still no definitive draft, but reports suggest that legislation is a “90%” list.

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The giant technological companies in the United States could face strict requirements in case they try to issue their own Stablecoinsaccording to the next regulation under review of the legislators.

United States legislators have been working in recent weeks in legislative efforts to regulate Stablecoinsin an attempt to address President Donald Trump’s desire to sign a law before August.

From the Senate, a bill of Stablecoincalled Genius Law, is a key effort currently under discussion.

After some reviews, legislators now seem to be reviewing a new draft of the Genius amended bill that, according to the reports, could prevent companies like Google and Meta from issuing their own stablcoins.

The journalist Eleanor Terrett of Fox Business He shared on Thursday in social networks images of a revised draft of the legislative project, which reveals key changes in the policies related to the creation of tokens by public companies.

In particular, the language of the text indicates that the giant non -financial technologies companies would face prohibitions when issuing their own digital currencies with fiduciary parity, unless they meet strict compliance standards. The draft specifically mentions the Meta, Google, Microsoft, Amazon companies.

“Limitations to large technological issues: it prohibits non -financial companies that are traded in the stock market to issue a stablecoin unless they can fulfill strict criteria regarding financial risk, privacy of consumers’ data and fair commercial practices. This helps prevent companies such as Meta, Amazon, Google and Microsoft“, Read in the image of the document shared by Terret in X.

🚨New: Big Tech Language of Page 2 of the Genius Act Text. ⬇️ https://t.co/d8k7f2mite pic.twitter.com/lqgscojgob

– Eleanor Terrett (@eleanorterrett) May 15, 2025

Genius law in review in the US Senate.

The provision is part of a broader section entitled “Banking and Commerce – Financial Security Protection”, which also includes security barriers aimed at ensuring that the amendment does not alter the current eligibility for the access of the Federal Reserve.

The text also lists consumer protections, prohibiting that the issuing can say that their stablecoins are backed by the Federal Deposit Insurance Corporation (FDIC) or by the full faith and credit of the US government. UU. Likewise, it would also grant the authority to the Department of the Treasury to suspend records of the Issuers of the Issues of the Issues of the Issues of the Issues of Stablecoins In case of deliberate and reckless violations of the regulations, as each case of non -compliance and can be treated as a separate crime.

Last week, a vote in the Senate on the Genius project faced a brake after no Democratic member agreed to vote for its progress. Democrats had expressed concern about the need for stronger standards.

Bipartisan negotiations have resumed to modify the language of invoices, with the leadership of the Senate considering more strict measures, according to various reports.

A source familiar with negotiations told the news agency The Block that the parties are “90% there“In the terms of the bill. That report added that the remaining 10% focuses on the ethics rules for special government employees and standards for public companies that seek to issue Stablecoins.

A clarification in the filtering draft that says “Final text pending “ between brackets in the section of the limitations on the issuance of Stablecoins by financial companies, it seems to align with the report of The Block. This suggests that the text is not yet definitive and that several votes of the senators are still missing for a final draft.

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Hannah Estefanía Pérez / Diariobitcoin

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