According to online reports, according to the latest U.S. Senate "GENIUS Act 2025", the updated bill specifically expands the "Reciprocity for Payment Stablecoins Issued in Overseas Jurisdictions." The U.S. Treasury secretary is required to reach bilateral agreements with countries with similar regulatory frameworks for stablecoins to ensure coordination of reserve requirements, supervision, anti-money laundering and counter-terrorism measures, sanctions compliance standards, liquidity requirements, and risk management standards. The reciprocal arrangement needs to be completed within two years of the bill taking effect to facilitate international transactions and enhance interoperability with dollar-denominated overseas payment stablecoins. In addition, the bill clearly excludes licensed issuers of payment stablecoins from the scope of "commodities" as defined in the Commodity Exchange Law, further clarifying regulatory responsibilities.