#GENIUSActPass

The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, has passed the Senate with a 68-30 vote. This bipartisan bill aims to establish a regulatory framework for payment stablecoins, providing clarity and protection for consumers and businesses. The bill's passage is seen as a significant step towards making the United States a global leader in cryptocurrency.

*Key Provisions:*

- *Regulatory Framework*: Establishes a framework for payment stablecoins, defining permitted issuers and regulatory requirements.

- *Consumer Protection*: Protects consumers by requiring issuers to maintain sufficient reserves and allowing for redemption of stablecoins.

- *National Security*: Strengthens national security by regulating stablecoin issuers and transactions ¹ ².

*Next Steps:*

- *House of Representatives*: The bill will now be considered in the House, where it may face additional proposals for amendments.

- *Potential Law*: If passed, the GENIUS Act would provide a clear regulatory environment for stablecoin issuers and users in the United States ³ ⁴.