#GENIUSActPass

The U.S. Senate has passed the GENIUS Act, a major step toward federally regulating stablecoins. Approved by a bipartisan vote, the bill requires stablecoins to be backed one-to-one with liquid assets, mandates monthly reserve disclosures, and enforces anti-money laundering compliance. Both banks and non-bank issuers will fall under strict oversight. Supporters hail the bill as a breakthrough for crypto innovation and financial clarity. Critics, however, argue it doesn’t go far enough to protect consumers or prevent conflicts of interest. The act now heads to the House, where it could soon become law and significantly reshape the digital currency landscape.