#GENIUSActPass

The U.S. Senate has approved the GENIUS Act, a landmark bill that establishes a regulatory framework for stablecoins. This move 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 authorities. With the bill now referred to the House of Representatives, it positions the United States to lead the global regulation of stablecoins.

#MyTradingStyle

●▪︎ The GENIUS Act enjoys bipartisan support in the Senate

The Senate passed the National Innovation and Stablecoin Regulatory Framework Act (GENIUS) after bipartisan negotiations led by Senator Tim Scott from South Carolina.

Co-sponsored by Senators Bill Hagerty, Kirsten Gillibrand, Cynthia Lummis, and Angela Alsobrooks, this bill is the first of its kind targeting stablecoins for direct payments. The Senate Banking Committee approved the bill in March after reviewing nearly 40 amendments, with support from all Republicans and five Democrats.

Scott emphasized that this asset...