BREAKING NEWS The US Senate approves the stablecoin bill GENIUS Act

The Senate has just voted to approve the GENIUS Act, ensuring that this bill will become law. It will have massive implications for crypto regulation in the United States, creating a new framework for stablecoins.

Several Democrats expressed their opposition to the bill, but it was passed with strong bipartisan support.

The GENIUS Act will come into effect

The regulation of stablecoins is a hot topic in the crypto industry right now, and the GENIUS Act represents a major breakthrough for innovation. After months of debate and failed votes, a series of new amendments and bipartisan support have brought it to the finish line. Now, it will only need the signature of President Trump to take effect.

Several major institutions have already anticipated this move and are preparing accordingly. Both JPMorgan and Bank of America have announced plans to launch their own stablecoin soon.

The GENIUS Act will impose new restrictions on stablecoin issuers, requiring them to purchase large sums of US Treasury bonds. This requirement led Tether to buy more Treasury bonds than most states, potentially giving stablecoins new influence in global finance.

President Trump has big plans for this industry, assigning them a role in the dominance of the dollar. Some Democratic senators strongly opposed the GENIUS Act, seeing it as a pathway to crypto corruption of trump$BTC