#USStablecoinBill

The U.S. Senate is currently debating the GENIUS Act, a bipartisan bill aiming to establish a federal regulatory framework for stablecoins. The legislation mandates that stablecoins be fully backed 1:1 by U.S. dollars or equivalent liquid assets, with issuers subject to strict reserve, segregation, and monthly certification requirements. While the bill initially garnered bipartisan support, recent concerns over anti-money laundering provisions and potential conflicts of interest—particularly involving Trump-affiliated stablecoin ventures—have led several Democrats to withdraw their backing. This shift has introduced uncertainty regarding the bill's passage and highlights the ongoing challenges in achieving consensus on crypto regulation. ([MarketWatch][1], [cov.com][2], [Politico][3])