The U.S. Senate recently voted to approve discussions on a new law known as the GENIUS Act, which aims to regulate stablecoins like USDT and USDC. This step is considered historic as it establishes a clear legal framework for this type of digital asset in the United States.
The most important aspects of the law include:
Stablecoins must be 100% backed by assets such as dollars or treasury bonds.
Issuers are subject to strict laws, including anti-money laundering and consumer protection.
Banks and financial institutions can issue these coins, provided they comply with U.S. laws even if they are outside America.
Why is this important?
If the law is passed, it will set a global precedent that other countries may follow, granting stablecoins legal legitimacy and contributing to the stability of the digital market.
Simply put: America has started to put laws in place to control stablecoins, and this could be the beginning of global regulations to officially govern the market.
