The Senate Approves the GENIUS Act to Regulate Stablecoins; Ripple's CEO Calls it a Victory

The U.S. Senate has approved the GENIUS Act, a landmark piece of legislation that establishes a regulatory framework for payment stablecoins. This step represents a significant shift in the oversight of digital assets, as lawmakers seek to provide clarity in the cryptocurrency sector.

With broad bipartisan support, the bill aims to protect consumers while enhancing national security measures related to digital finance.

This legislation reflects months of negotiations involving lawmakers, industry experts, and regulatory specialists. As the bill moves to the House of Representatives, it positions the United States to lead the global regulation of stablecoins.

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●▪︎ The GENIUS Act has Bipartisan Support in the Senate

The Senate approved the National Innovation Guidance and Establishment Act for U.S. Payment Stablecoins (GENIUS) after bipartisan negotiations led by Senator Tim Scott from South Carolina.