🗳️ Historic Vote: GENIUS Act Clears Senate (68–30), Moves to House! 🇺🇸
On June 17, the U.S. Senate passed the GENIUS Act with bipartisan support, establishing the first federal regulatory framework for dollar‑pegged stablecoins . This landmark legislation mandates 1:1 reserves held in liquid assets and monthly public disclosures, while allowing regulated banks to issue stablecoins.
While hailed by Chairman Tim Scott and Rep. French Hill as a major boost for innovation and consumer protection, critics like Senator Warren warn of insufficient AML safeguards and loopholes enabling Big Tech and presidential stablecoin issuance.
As the bill goes to the House, the crypto community must ask:
Will this law bring transparency and trust… or open the door to new risks?
👇 Share your view—especially on the role of stablecoins in future finance!
