#USStablecoinBill

The U.S. Senate is currently debating the bipartisan GENIUS Act, a bill aiming to establish a regulatory framework for stablecoins—cryptocurrencies pegged to stable assets like the U.S. dollar. The proposed legislation mandates that issuers maintain full 1:1 reserves in cash or Treasury assets, undergo regular audits, and adhere to anti-money laundering laws. It also permits smaller issuers to operate under state oversight if their regulatory standards align with federal requirements. While the bill seeks to balance innovation with consumer protection, it has sparked controversy. Critics, including some Senate Democrats, express concerns over national security risks and potential conflicts of interest, especially given the Trump family's involvement in stablecoin ventures.