#GENIUSActPass The GENIUS Act brings clarity to the regulation of the $261 billion stablecoin market

The stablecoin market is currently valued at $261.5 billion, with the leaders being:

Tether (USDT) – $155.4 billion

USD Coin (USDC) – $61.4 billion

USDS, BSC-USD, USDE, DAI – remaining major contenders

The GENIUS Act, passed by a vote of 68 to 30, establishes new standards for auditing, reserving, and licensing, ending the Wild West era for stablecoins.

Senator Bill Hagerty, who supported the bill, called it a "new era of payments," emphasizing its potential to accelerate and reduce the cost of transactions in the financial system.