#GENIUSActPass

The U.S. Senate recently passed the groundbreaking GENIUS Act, marking a historic shift for the stablecoin market. For the first time, stablecoins will be required to maintain one-to-one reserves with cash or U.S. Treasuries, backed by monthly disclosures and audited reserves to ensure transparency and consumer protection. This will safeguard users in the event of issuer insolvency. The bill also empowers regulated entities, including Special Purpose Depository Institutions, to issue stablecoins across all states, which could draw major banks into the digital payments ecosystem. Critics, however, raise concerns about potential conflicts of interest. Yet, once the House approves and it’s signed into law, this could legitimize and grow the U.S. stablecoin market into the trillions.