#GENIUSActPass

The US Senate voted "in favor" of stablecoins! The GENIUS Act passed with a decent score - 68 "for" against 30 "oh, not sure". Now it's up to the House of Representatives.

💵 Essence: they want to bring order to the world of stablecoins - tokens must be backed by dollars one to one, issuers are required to undergo audits and behave decently (that is, fight money laundering and be as transparent as glass).

📜 The author of the bill - Republican Senator Bill Hagerty, believes that this law will help the US remain the financial boss in the world of Web3.

🎯 The crypto community is already applauding: finally something coherent from the authorities! And if the House of Representatives also says "yes", then the market will get clear rules of the game and dollars on the blockchain will feel at home 🏠💸

The GENIUS Act is like instructions for DeFi blocks: we waited a long time, but now it will be easier to play 😉