#GENIUSActPass In a significant milestone for the digital asset industry, the U.S. Senate approved the GENIUS Act with a resounding vote of 68 to 30, marking a crucial advancement towards a stable regulatory framework for cryptocurrencies and stablecoins in the country.
What Does This Approval Mean?
The GENIUS Act aims to establish clear regulations for stablecoin issuers, promoting responsible innovation and protecting consumers. According to analysts, this regulation could accelerate digital payments and bring the U.S. closer to the mass adoption of digital assets.
A representative from the Democratic People's Republic of Korea highlighted that efficient regulation could facilitate faster transactions, boosting the utility of stablecoins in global trade.
