#GENIUSActPass
The GENIUS Act received bipartisan support in the Senate
The U.S. Senate approved the GENIUS Act, the first major cryptocurrency initiative, which received 68 votes in favor and 30 against, and is now headed to the House of Representatives.
The document provides for strict regulation of stablecoins, including full backing of tokens by U.S. dollars or short-term government bonds, annual audits, and transparency requirements.
The bill is supported by both the Treasury and industry representatives, as it promises to strengthen the dollar's position in the digital economy and attract investments.
