#GENIUSAct
The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) has recently advanced in the U.S. Senate, marking a significant step toward establishing a federal regulatory framework for payment stablecoins.
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šļø Legislative Progress
On May 21, 2025, the Senate passed a procedural motion with a 69ā31 vote, allowing the GENIUS Act to move closer to a final vote expected after the Memorial Day recess. This bipartisan support reflects growing consensus on the need for clear regulations in the rapidly evolving digital asset space.
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š Key Provisions of the GENIUS Act
Stablecoin Issuer Requirements: Issuers must maintain 100% reserve backing with U.S. dollars or short-term Treasuries, ensuring stability and consumer protection.
Anti-Money Laundering (AML) Compliance: Stablecoin issuers are classified as financial institutions under the Bank Secrecy Act, requiring them to implement AML programs and comply with sanctions regulations.
Consumer Protections: The Act mandates monthly public disclosures of reserve compositions and annual audited financial statements for issuers with over $50 billion in market capitalization.
Ethics and Governance: The legislation clarifies that existing ethics laws apply to members of Congress and senior executives involved in stablecoin issuance, addressing concerns about potential conflicts of interest.
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šø Visual Highlights
Here are some images related to the GENIUS Act:
Senate Advances GENIUS Act:
GENIUS Act Overview:
GENIUS Act Passes Key Senate Vote:
GENIUS Act Legitimizes Stablecoins:
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The GENIUS Act represents a pivotal moment in the regulation of digital assets, aiming to provide clarity and security in the stablecoin market. As the bill moves toward a final vote, stakeholders across the financial and technological sectors are closely monitoring its progress.
Let me know if you would like more detailed information or further updates on this topic.