According to Odaily Planet Daily, U.S. Senate Majority Leader John Thune has submitted a motion to end debate on the (GENIUS Act), scheduled for a vote on May 19. The bill requires issuers with assets over $10 billion to be regulated by the Federal Reserve, smaller institutions to be regulated at the state level, and all stablecoins to be fully backed by assets such as U.S. dollars or government bonds. The latest amendment adds three provisions: stricter rules for tech companies involved in financial assets, enhanced consumer protection mechanisms, and increased oversight of government officials. The House has passed a similar (STABLE Act), requiring issuers of stablecoins like USDT to operate transparently. If the bill passes, it will become the first federal legislative framework for stablecoins in the U.S., impacting the direction of digital asset regulation.

#USDT