#GENIUSActPass

📘 #GENIUSActPass – The U.S. Senate today approved the GENIUS Act, a bipartisan regulatory milestone aimed at stablecoins, with a vote of 68–30. This bill establishes clear guidelines for stablecoin issuers, requiring:

1:1 reserves backed by liquid assets (e.g., Treasury securities)

Regular audits, AML/KYC compliance

Prohibition for foreign entities and politicians to profit from stablecoin issuances.

🔑 Why is this important?

Trust and security: regulation strengthens stablecoins as reliable means of payment, encouraging global use.

Boost to institutional adoption: companies like Circle and banks can launch stablecoins with legal backing.

Regulatory precedent: this is the first relevant crypto law approved in the Senate, paving the way for further legalizations.

⚖️ Points of attention and criticism:

Conflict of interest: critics like Elizabeth Warren point out legal loopholes allowing Trump and affiliated companies to hinder full oversight.

Power of big tech: the text allows large platforms (e.g., banks, Amazon) to issue stablecoins—which could concentrate the market.

Global landscape: similar initiatives are starting in Europe and Asia, but the American law could set international standards.

💬 Phrase for debate:

“The GENIUS Act ushers in the legal era of stablecoins—ensuring security for crypto payments, but still leaving political loopholes and allowing giants to dominate the market.”