#GENIUSAct 🪙 What Does the GENIUS Act Do?

Key provisions include:

Issuer Requirements:

Reserve Backing:

Transparency:

Consumer Protections:

Regulatory Oversight: The bill mandates capital, liquidity, and risk management standards, and requires state regulators to maintain frameworks substantially similar to the federal model.

⚖️ Political Context and Controversies

The bill's progression follows bipartisan negotiations that addressed concerns over potential conflicts of interest, particularly regarding the Trump family's involvement in crypto ventures. Amendments were made to prohibit executive branch officials from launching stablecoins, excluding the president and vice president, thus leaving a path open for President Trump.

Despite these adjustments, some lawmakers, including Senator Elizabeth Warren, have expressed opposition, citing insufficient safeguards against conflicts of interest and potential risks to consumers and the broader economy.

📅 What's Next?

While the Senate has cleared a key procedural hurdle, the GENIUS Act still faces further debate and a final vote, likely after the Memorial Day recess. If passed, it would proceed to the House for consideration.

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