📣 GENIUS Act takes a historic step towards regulating stablecoins! 🇺🇸💥
Through a bipartisan vote (68–30), the U.S. Senate today passed the GENIUS Act, making it the first federal law to regulate digital stablecoins in the United States.
📌 Key highlights of the law:
Mandatory 1:1 backing of each stablecoin with cash or government bonds.
Monthly transparency reports on reserves.
Direct oversight from regulatory bodies to ensure security and trust.
📈 Such a step paves the way for the adoption of stablecoins as a legal means of payment and opens the door for major financial institutions to enter the space.
🔍 My vision:
This decision enhances institutional trust in digital currencies.
An opportunity for the rise of USDC and other stablecoins.
It is expected to encourage banks and large companies to adopt blockchain-based solutions.
💬 Do you think this step will accelerate the adoption of digital currencies in our daily lives? And is USDC the biggest beneficiary? Share your opinion with me 👇
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#GENIUSActPass #USDC #TradersLeague #Binance
