#GENIUSActPass

💥 The USA has passed a historic law on stablecoins — GENIUS Act

The US Senate has approved the GENIUS Act — the first law in the country's history to create clear federal rules for dollar-backed stablecoins.

Now such tokens must:

🔹 have 100% reserve backing (cash or short-term treasuries),

🔹 undergo mandatory audits and disclose reserves,

🔹 operate under a license and be under the supervision of the Federal Reserve and OCC.

What does this mean?

— Legalization of stablecoins as a means of payment,

— Exemption from SEC and CFTC jurisdiction (not considered securities),

— Potential growth in trust and widespread adoption — from banks to BigTech.

But there have been scandals: Democrats criticize the law for loopholes that allow the president (hello Trump 👀) to benefit from crypto initiatives.

The GENIUS Act is now awaiting consideration in the House of Representatives.

If it passes — this will be a new chapter for crypto and a real step towards the internet dollar.