#GENIUSActPass

GENIUS stands for Guiding and Establishing National Innovation for U.S Stablecoins.

It's the first federal legislative framework designed to regulate stablecoins- cryptocurrencies pegged to assets like the U.S dollar aimed at enhancing transparency, consumer protection, and national security.

The Senate passed the bill in a 68-30 bipartisan vote, with 18 Democrats joining Republicans.

Requiring stablecoin issuers to maintain reserves in safe, liquid assets.

Enabling banks to issue stablecoins under regulatory oversight.

Mandating disclosures and banning most members of Congress.