🚨 Urgent: The U.S. Senate passes the preliminary vote on the Genius Act stablecoin bill, which is a regulation for the stablecoin market like $USDT $USDC.

🔍 What are the bill's provisions?

↙️Mandates stablecoin issuers to hold 100% reserves of safe assets (like Treasury bonds and cash dollars).

↙️Direct oversight from regulatory bodies like the Department of the Treasury and SEC.

↙️Protection for coin holders in case of bankruptcy.

↙️Allows banks to issue licensed and legal stablecoins.

📈 Importance of the law?

↙️Greater institutional adoption and increased trust in digital currencies.

↙️Will push banks and financial companies to issue their own stablecoins.

📌 Where are we currently?

The preliminary vote has passed, it will head for the final vote soon in the Senate, and then to the White House.