The U.S. Senate has advanced the GENIUS Act, a significant legislative effort aimed at creating a regulatory framework for stablecoins, passing with a 66-32 vote. This development represents a notable bipartisan shift, with 16 Democrats reversing their previous stance.
The Act introduces new restrictions on stablecoin issuance and interest payments, aiming to enhance market stability and regulatory oversight. Industry experts express optimism, suggesting this could lead to a multi-year bull market and comprehensive crypto legislation.
USDC's stability amid evolving regulations further highlights the potential for increased investor confidence and liquidity in the crypto market, as clarity in regulations could foster greater capital inflows.
Full story here: https://coincu.com/338880-us-senate-stablecoin-legislation
