Private Dollars, Public Risks
How the GENIUS Act Could Reshape the Future of Money—and Small Business
A new bill from Congress could change how money works in America—and who controls it. The U.S. Senate has passed the GENIUS Act (S.1582), a bipartisan move that could allow private companies to issue payment stablecoins, or digital tokens backed by the U.S. dollar.
This marks a major shift. If the bill becomes law, digital money would no longer be an experiment reserved for crypto enthusiasts. It would be legal, regulated, and able to exist alongside—maybe even replace—traditional cash and bank accounts.
The bill passed the Senate on June 17, 2025, with a 68–30 bipartisan vote. It now heads to the House of Representatives for consideration.
Stablecoins are digital assets pegged to the value of a real currency, like the U.S. dollar. But under this law, they would be issued not by the government, but by private firms like tech companies, financial institutions, or fintech startups.
What does this mean in plain terms?
For starters, tech firms and banks could start issuing their own “dollars.” People might skip traditional bank accounts and instead hold money in apps or digital wallets. Over time, physical cash could become rare. This shift could give massive financial power to a few companies, especially in tech and crypto.
To some, this is exciting. Faster payments. More financial tools. Fewer middlemen.
To others, it’s risky. Who’s regulating the companies that issue these digital dollars? What happens if a firm fails—or decides to change its terms overnight? What if small businesses get left out of this new system?
Here in San Antonio, the impact could be big. Small businesses across Bexar County are already working to catch up with digital tools. Many are still transitioning to digital payments, online banking, and financial literacy basics. This bill could widen the gap between those who are ready—and those who are not.
A 2023 San Antonio area study found that about 30% of small business owners still manage finances manually or through outdated systems. They’re already at a disadvantage in a fast-changing digital economy. Now, they face a new layer of complexity: navigating a world where the “dollar” could come from Apple, PayPal, or a fintech startup.
It’s worth noting that this financial shakeup is happening alongside other big shifts in Texas policy. Senate Bill 22, for example, just allocated $300 million to boost the state’s film and TV industry, with San Antonio offering nearly 40% in incentive boosts for productions. These investments show how Texas is betting on bold change—and how local economies must be ready to evolve.
Meanwhile, another Texas bill just rolled back Governor Abbott’s mandate for all state workers to return to the office. Lawmakers instead voted to allow agencies to set their own remote work rules. This is another sign that centralized mandates are giving way to more flexible, decentralized models, just like what’s happening with money.
For entrepreneurs, the message is clear: decentralization is the future. Whether it’s in how you work, how you bank, or how you grow your business, flexibility and digital literacy will be key.
So what should business owners do now?
First, stay informed. If the GENIUS Act passes the House, the new rules could roll out quickly. Second, begin exploring digital wallets, fintech platforms, and online payment tools. Finally, don’t go it alone.
At Emerge and Rise, we specialize in helping small businesses adapt to change. From financial literacy workshops to one-on-one support with tech adoption, our programs are built for entrepreneurs who need a hand keeping up—and getting ahead.
This isn’t just about money. It’s about access, equity, and opportunity. If stablecoins become the norm, we must ensure that underserved businesses aren’t locked out of the new economy.
The GENIUS Act could transform how we move, store, and think about money. Let’s make sure it transforms our communities for the better, too.
Not sure how to prepare for a world of digital dollars? Emerge and Rise offers hands-on support and resources to help San Antonio’s small businesses stay ready for what’s next. Talk to us.
Your donations make our work possible.
When you give to Impact, you provide resources that transform the community.
Keep Reading
