#GENIUSActPass Law #GENIUSActPass:

On June 17, 2025, the U.S. Senate passed the "GENIUS Act" by a vote of 68 to 30, making it the first federal regulatory framework to regulate "stablecoins" (dollar-pegged digital currency). The bill stipulates that issuers of the currency must cover reserves in cash or treasury bonds, with monthly reports published on the financial composition. It imposes restrictions on senior officials owning stablecoins while in office, although the president and vice president are not included. Despite some Democrats like Elizabeth Warren opposing it for being weak on protections, the majority discussed enhancing anti-money laundering measures and it will move to the House before being signed by the president.