The GENIUS Act is scheduled for a U.S. Senate vote, focusing on stablecoin regulation and transparency. This bipartisan legislation, set for May 19, 2025, aims to enhance federal oversight for stablecoin issuers with over $10 billion in assets.
Sponsored by Senator Bill Hagerty, the bill mandates that all stablecoins be backed by tangible assets, ensuring consumer protection and accountability. The implications of this far-reaching regulation could significantly impact the digital asset landscape.
Market reactions are mixed, as some see this as a stabilization effort, while others worry about increased regulatory burdens, potentially setting a precedent for global regulations.
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