#GENIUSActPass The bill mandates 1:1 reserve backing, monthly disclosures, and federal or state licensing for issuers like Circle and Tether. It aims to ensure transparency, prevent financial crimes, and block noncompliant foreign coins. The legislation follows concerns over stablecoin risks to the U.S. financial system, including potential Treasury market strain. Circle’s stock rose 16% after the vote, signaling strong market confidence. The bill now moves to the House, where it may merge with broader crypto laws. This marks a critical step in giving stablecoins a legal foundation and boosting U.S. crypto regulation leadership