#GENIUSActPass 🚨 BREAKING: U.S. SENATE PASSES THE GENIUS ACT 🇺🇸💵
The U.S. Senate just passed the #GENIUSAct — a historic move to regulate stablecoins with federal clarity! ✅
Final vote: 68–30 🎯
🔍 What it means:
🔒 1:1 reserve rules for all stablecoins (U.S. Treasuries only)
📜 Strict compliance: AML, audits & disclosures
❌ Big Tech & foreign firms CAN’T issue stablecoins unless fully regulated
🛡️ Protects consumers + boosts institutional confidence
But... 👀
🔥 Critics warn the bill exempts the President and VP from stablecoin profit bans, sparking fears of potential loopholes.
💬 Coinbase, Circle & key U.S. crypto leaders are celebrating this as a major win for Web3 innovation.
🧭 Next stop: House of Representatives — watch for possible merge with the #STABLEAct or #CLARITYAct.
🗳️ If signed, this could be the first full crypto law in U.S. history!
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