#USStablecoinBill The U.S. Senate is currently grappling with the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), a bipartisan bill aimed at creating the first federal regulatory framework for stablecoins. Initially enjoying bipartisan support, the bill now faces significant opposition from within the Democratic Party, threatening its progression.

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🏛️ Overview of the GENIUS Act

Introduced by Senators Bill Hagerty (R-TN) and Kirsten Gillibrand (D-NY), the GENIUS Act seeks to:

Mandate that stablecoins be fully backed 1:1 by U.S. dollars or high-quality liquid assets.

Require issuers to segregate reserves, prohibit rehypothecation, and provide monthly