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Historic day for Stablecoins in the USA: The GENIUS Act adopted by the Senate
A controversial law. The GENIUS law (Guiding and Establishing National Innovation for U.S. Stablecoins) is a bill aimed at creating a regulatory framework for stablecoins in the United States. Proposed by Republican Senator Bill Hagerty, this bill was passed by the U.S. Senate on Tuesday, June 17, despite the opposition from some Democrats who denounce President Donald Trump's conflicts of interest in the crypto sector. The bill still needs to be approved by the House of Representatives before being enacted by the president. Here’s the update.