The U.S. Senate has advanced the GENIUS Act, aiming for federal regulation of stablecoins, with a vote of 66–32 on May 19, 2025. This bipartisan support marks a significant step toward establishing legal oversight for digital assets, addressing consumer protection concerns in the cryptocurrency market.
Led by Senator Bill Hagerty, the bill requires stablecoin issuers to follow federal registration and transparency guidelines. This change is expected to impose stricter compliance obligations, particularly impacting U.S. dollar-backed stablecoins like USDC and USDT.
Market reactions have been cautiously optimistic, as the act may clarify regulations and enhance financial stability, ultimately benefiting U.S.-based digital assets.
Full story here: https://coincu.com/338582-genius-act-stablecoin-regulation
