#USStablecoinBill

The GENIUS Act is being discussed in the US Senate — the first attempt at the federal level to regulate the stablecoin market.

Main points:

• 100% backing of stablecoins by dollars or liquid assets

• Only licensed companies will be able to issue them

• Monthly reserve reports are mandatory

• Tether and other foreign issuers will have to comply with new rules

However, the bill has faced political resistance: 9 Democrats withdrew their support, citing money laundering risks. Potential benefits for the Trump family are also being discussed.

If passed — it will change the stablecoin market in the US forever.