BREAKING: 🇺🇸 Senate Poised to Pass Historic Stablecoin Bill Next Week 🏛️💵

Senator Bill Hagerty has announced that the U.S. Senate is set to "make history" next week by debating and potentially passing the GENIUS Act, a landmark bill aimed at regulating stablecoins.

Key Highlights:

📜 GENIUS Act: Establishes the first-ever pro-growth regulatory framework for payment stablecoins.

💰 Reserve Requirements: Mandates that stablecoins be backed by safe, liquid assets like U.S. Treasury bills.

🛡️ Consumer Protections: Includes anti-money laundering measures and bankruptcy safeguards for holders.

🚫 Big Tech Restrictions: Limits non-financial tech companies from issuing stablecoins without special approval.

Senator Kirsten Gillibrand emphasized the bipartisan nature of the bill, stating that it "provides regulatory clarity to this important industry" and "reaffirms the dominance of the U.S. dollar."

A crucial procedural vote is scheduled for Monday, requiring 60 votes to advance. If passed, the bill will move to the House of Representatives for further consideration.

Stay tuned for updates on this significant development in crypto regulation.

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