#GENIUSActPass
The U.S. Senate has approved the GENIUS Act with strong bipartisan support (68 votes) โ . This is a historic move for the crypto world ๐, especially for stablecoins like USDC ๐ต.
๐ The bill introduces the first official stablecoin regulations in the U.S., aiming to:
Ensure 1:1 reserves ๐ฐ
Stop money laundering ๐ต๏ธโโ๏ธ
Improve consumer protection ๐จโ๐ฉโ๐งโ๐ฆ
๐ฅ However, there are concerns over conflicts of interestโespecially involving the Trump familyโs crypto investments, which earned over $57 million last year ๐ฎ.
๐ Despite the controversy, experts say this law will bring regulatory clarity and boost investor confidence ๐. USDC remains stable at $1.00 with a strong market cap of $61.56B ๐.
Senator Tim Scott says this act will protect users while supporting financial innovation ๐ง ๐ก.
