The U.S. Senate has approved the GENIUS Act, which is the first comprehensive regulatory framework for dollar-pegged stablecoins, marking a pivotal moment in the regulation of the digital asset sector. The law requires stablecoin issuers to hold liquid financial reserves such as cash and Treasury bonds, along with monthly disclosures of those assets to ensure transparency and stability. The bill received broad bipartisan support, with 68 members in favor and 30 against, reflecting a rare consensus on a highly sensitive issue. However, the law has sparked internal controversy due to what some Democrats view as loopholes related to conflicts of interest, especially given the exemption of the president's position and family from some restrictions imposed on Congress. Questions have also been raised about the potential strengthening of major tech companies' influence through this legislation. The law is now headed to the House of Representatives, where it is expected to undergo further discussions and possibly amendments before reaching the president's desk. This regulatory framework is expected to bring about a transformation in the digital currency landscape, as it opens the door to wider adoption of stablecoins while maintaining financial security standards and user trust in the digital financial system.