#USStablecoinBill #USStablecoinBill Major Update: The Stablecoin Bill and Implications for Binance

In recent weeks, the crypto scene has been marked by significant developments regarding stablecoin regulation in the US and a major investment in Binance.

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🏛️ GENIUS Bill: Regulation of Stablecoins

Senator Bill Hagerty (R-Tenn.) introduced the GENIUS (Guiding and Establishing National Innovation for US Stablecoins) bill, which proposes:

**Full and transparent reserve **: Stablecoins must be backed 100% by liquid assets such as cash or government securities.

**Differentiated oversight **: Issuers with a market capitalization of over $10 billion will be regulated by the Federal Reserve, while those below this threshold by state authorities.

**Monthly reporting **: The obligation to publish the composition of reserves monthly.

**Temporary ban **: A two-year ban on algorithmic stablecoins or those backed by other cryptocurrencies.

Although the bill has passed the Senate Banking Committee, it faces opposition from some Democrats calling for stricter measures against money laundering and systemic risks .$XRP $BNB $BNB