#GENIUSActPass

Years of debate and discussion, the U.S. Senate achieved a historic milestone by passing the GENIUS Act with a landslide majority of 68-30 votes, marking the first time comprehensive federal legislation regulating stablecoins has been passed!

💎 What is the GENIUS Act?

GENIUS stands for "Guiding and Establishing National Innovation for U.S. Stablecoins," and it is the law that will transform the landscape of the digital currency industry in America and the world.

📊 Key features of the law:

🔹 Comprehensive regulatory framework: The first federal law regulating stablecoins pegged to the U.S. dollar

🔹 Strong consumer protection:

- Full reserve backing (100% reserve backing)

- Mandatory monthly audits

- Strict adherence to anti-money laundering laws

🔹 Opening the door for innovation: Allowing banks, fintech companies, and even major retailers to issue their own stablecoins