#GENIUSActPass

The GENIUSActPass refers to the recent passage of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) by the U.S. Senate. This bipartisan bill, passed with a 68-30 vote, marks a significant step towards a regulated stablecoin framework in the United States.

Its primary purpose is to provide legal clarity for stablecoins, requiring issuers to fully back tokens with U.S. Treasury or dollar equivalents and adhere to anti-money laundering rules. Supporters believe it will attract institutional investment, reduce regulatory uncertainty, and strengthen the U.S. dollar's global standing. The bill now moves to the House for further review.