#GENIUSActPass

The U.S. Senate has officially passed the GENIUS Act, aiming to regulate stablecoins — a major win for the crypto industry.

Ji Kim, Acting CEO of the Crypto Council for Innovation, called it a “historic milestone for the digital asset space” in a statement released ahead of the vote.

Senator Bill Hagerty of Tennessee, who introduced the bill, stated:

"With this legislation, the U.S. moves closer to leading the global crypto landscape. Stablecoins will now be tied to the U.S. dollar and fully backed by cash and short-term Treasury assets — bringing greater clarity and trust needed for mass adoption of this groundbreaking technology."