#GENIUSActPass

🪙 #GENIUSActPass 📜

🇺🇸 The law is passing through the Senate!

✅ Latest updates (June 18, 2025): The U.S. Senate votes 68-30 in favor of the GENIUS Act (Guidance and Establishment of National Innovation for U.S. Stablecoins), the first comprehensive regulatory framework for stablecoins. It now moves to the House of Representatives for review.

💡 Key details:

Regulates the stablecoin market (~238$ billion) with strict requirements: 1:1 reserves (U.S. dollars or short-term Treasury bills), monthly disclosures, and annual audits for major issuers.

Members of Congress and senior executives are prohibited from issuing stablecoins while in public service, but critics point out the lack of restrictions on the President and his family.

Enhances consumer protection and anti-money laundering, but raises concerns about "facilitating corruption" and "weak integration with the traditional financial system" according to critics like Senator Elizabeth Warren.

📈 Market impact: $BTC and $ADA experience fluctuations, but the legislation could boost institutional adoption and increase trust in stablecoins, reinforcing the dollar's dominance.

🔒 Advice: Watch for the vote in the House of Representatives (expected in 4-6 weeks) and keep your digital assets in secure wallets!

#Cryptocurrencies #Financial_Regulation 💸