⭐ What happened
The US Senate voted for the GENIUS Act with a score of 68–30 — this is the first large-scale cryptocurrency bill to reach the Senate. Now the document awaits a vote in the House of Representatives.
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📘 What the GENIUS Act entails
📌 every stablecoin (USD-pegged token) must be backed 1:1 — meaning each token = one dollar in reserve
📌 large players (with a turnover above a certain threshold) are required to undergo regular audits
📌 all stablecoins are subject to money laundering and user verification (KYC/AML) regulations
📌 prohibition for government officials to launch their own cryptocurrencies
📌 restrictions for foreign companies that want to work with stablecoins in the USA
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📈 Why this is an important step
🔸 stablecoins cease to be a 'wild west' and become part of the payment and financial system
🔸 this is a clear signal for major tech companies: 'we are enabling the building of DeFi and payment services here'
🔸 players like Circle (USDC) receive a green light: a clear advantage, as regulation is now on their side
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🌍 How this affects the market and crypto
💸 Short-term: expect an increase in trust towards USDC, investors will shift to more transparent stablecoins
🤝 Mid-term: investors and funds will be able to enter crypto through stablecoins, rather than buying BTC directly
🏛 Long-term: stablecoins could become the foundation of a new level of financial infrastructure — like a digital dollar that works faster and cheaper
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💡 Conclusion
The GENIUS Act is a major leap for the crypto industry in the USA. For the first time, the state is establishing clear frameworks for stablecoins — this is a signal for businesses and users.
If the law is passed and the House supports it — it will mean: crypto is seriously joining the mainstream finance.
Convenience, speed, and access — now with government support. And if you work in DeFi — this is a chance to launch officially and fully.
