🇺🇸 The US Senate has approved the GENIUS cryptocurrency bill: a step towards regulating the industry

The US Senate approved the GENIUS (Guiding and Enabling National Innovation for Uniform Standards) bill by a majority vote — 68 'for' and 30 'against'. This is the first major cryptocurrency legislation in history to pass through the upper chamber of Congress. The bill aims to establish uniform standards for the regulation of digital assets, particularly stablecoins, increasing control and transparency in the market. #GENIUSActPass

The document will now be sent to the House of Representatives, where lawmakers will decide whether to adapt it to their version or to accept the Senate version.

📚 Historical context

This event can be compared to the passage of the Gramm-Leach-Bliley Act (1999), which changed the US banking system, or the implementation of the Sarbanes-Oxley Act (2002), which reformed corporate reporting after the Enron collapse. In the crypto sphere, the GENIUS law could play a similarly foundational role — defining the rules of the game for market participants for years to come. #DAOBaseAIBinanceTGE

💡 What is changing?

- Creation of federal standards for the issuance and circulation of stablecoins.

- Stricter reporting and reserve requirements for issuers. #MyTradingStyle

- Distribution of roles between the SEC and CFTC.

📈 Why is this important? If the law is finally passed, the US may establish a global standard for cryptocurrency regulation, similar to what happened with securities markets earlier. This could increase the trust of institutional investors and accelerate the adoption of cryptocurrencies in the traditional financial system.