#GENIUSAct 🚀 Update: Senate Advances Landmark Stablecoin Bill! 🚀

The U.S. Senate has voted 66-32 to advance the GENIUS Act, bringing the first federal stablecoin framework closer to reality57. Key details:

📌 Key Provisions:

- Dual Oversight: State regulators handle issuers under $10B, while larger players face federal scrutiny46.

- Reserve Requirements: Full asset backing + monthly audits to prevent Terra-like collapses4.

- Bipartisan Push: Revised bill drops Trump-linked clauses, refocusing on consumer protection.

💡 Why It Matters:

With stablecoin market cap at $250B, the U.S. risks falling behind global rivals like MiCA-regulated EU3. The Act could boost institutional adoption—Visa just invested in stablecoin platform BVNK!

🔗 Next Step: Final Senate vote expected by Memorial Day.