#GENIUSAct 🚀 Big News: U.S. Senate Moves Forward on Stable coin Regulation!
The Senate has voted 66–32 to advance the GENIUS Act, a major step toward creating the first official federal stable coin framework!
Here’s what’s inside:
📌 Key Highlights:
Dual Oversight System:
State regulators will oversee stable coin issuers with assets under $10B.
Federal regulators will step in for bigger players.
Strong Reserve Rules:
Stable coins must be fully backed by real assets.
Monthly audits will be required—aimed at avoiding another Terra-style collapse.
Bipartisan Support:
The bill has been revised to focus purely on consumer protection, dropping politically charged clauses.
💡 Why It Matters:
With stable coins now at a $250B market cap, the U.S. needs to keep up with international competition (like Europe’s MiCA).
This Act could supercharge institutional adoption—even Visa is investing in stablecoin infrastructure (e.g., BVNK)!
🔜 What’s Next:
A final Senate vote is expected by Memorial Day. If it passes, this could change the future of U.S. crypto regulation!