#GENIUSActPass

The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) has been a central topic in the cryptocurrency space in recent weeks. The latest updates indicate significant progress. The U.S. Senate has approved the GENIUS Act with a vote of 68 to 30, marking an important milestone towards the regulation of crypto assets, especially stablecoins.

This legislation seeks to establish a clear regulatory framework for stablecoin issuers, promoting responsible innovation and providing consumer protection. The law is expected to boost the position of the United States as a leader in digital asset innovation and reinforce the role of the U.S. dollar as the world's reserve currency. Technology companies such as Circle and Tether may need special permissions as "qualified payment stablecoin issuers" (QPSI), while banks could issue stablecoins under their existing licenses with regulatory approval.

Although the Senate has given its approval, the GENIUS Act still needs to pass through the House of Representatives, where amendments are being considered that could prohibit large tech companies from issuing or even holding stablecoins. Uncertainty remains about the final version that will be approved, but the consensus is that it represents a victory for the pro-crypto faction in Congress, laying the groundwork for the mass adoption of digital assets. The crypto community is closely watching these developments, as the law could redefine the landscape of digital finance and the interaction between traditional finance and blockchain technology.

#GENIUSActPass