The GENIUS Act is a proposed legislation aimed at regulating the stablecoin industry in the United States. Here are some new things related to the GENIUS Act ¹:

- *Progress of the Legislative Process*: The GENIUS Act has undergone many revisions and debates in Congress, but it is now close to being passed into law.

- *Support from the Blockchain Industry*: The Digital Chamber, a blockchain advocacy group, strongly supports this bill and believes that stablecoins can strengthen the dominance of the US dollar globally.

- *Stablecoin Regulation*: This bill aims to regulate stablecoins and ensure consumer protection, national security, and market integrity.

- *Economic Impact*: If passed, the GENIUS Act could increase the adoption of stablecoins and strengthen the position of the US dollar in the global economy, as well as help the US tackle its large debt issues.

- *Estimates of Passage*: Some parties estimate that this bill will be passed before the end of June, although the amendment process is still ongoing.