The U.S. Senate approved the GENIUS Act by a clear majority (68–30), establishing the first comprehensive federal regulatory framework for regulating stablecoins—cryptocurrencies pegged to the dollar at a 1:1 ratio. The legislation stipulates that issuers of these currencies must maintain liquid financial reserves (such as treasury bonds), comply with anti-money laundering laws, and undergo periodic financial audits, especially if their market capitalization exceeds $50 billion.