#GENIUSActPass The US Senate approves the first federal law on stablecoins
With 68 votes in favor, the Senate approves the GENIUS Act, which mandates 1:1 reserves, transparency on reserves, and limits on unregulated issuers.
The bill now moves to the House. If approved, it will finally provide a clear framework for stablecoins issued by banks, fintech, and even big tech.