#GENIUSActPass

**🚀 #GENIUSActPass: The Senate Approves the First Stablecoin Law in the U.S. 🇺🇸**

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The **GENIUS Act** (Guiding and Establishing National Innovation for U.S. Stablecoins) has been approved by the U.S. Senate in a historic bipartisan vote (**68-30**), marking the first federal regulatory framework for **stablecoins**.

### 🔍 **What Does This Law Imply?**

✅ **Clear Regulation**:

- Requires stablecoins to be backed 1:1 by dollars or Treasury bonds, protecting users from collapses like that of Terra-Luna.

- Prohibits members of Congress and officials from issuing stablecoins, but **does not apply to President Trump**, generating controversy.

✅ **Boost to Adoption**:

- Banks like JPMorgan and giants like Amazon could launch their own stablecoins, increasing competition and reducing costs in global payments.

✅ **Concerns About Corruption**:

- Critics like **Elizabeth Warren** claim that the law facilitates conflicts of interest, as Trump and his family have millions in crypto investments (e.g., USD1 from World Liberty Financial).

### 📊 **Impact on the Crypto Market**

▪ **Institutionalization**: Stablecoins gain legitimacy, attracting more capital from Wall Street.

▪ **Volatility**: Bitcoin and altcoins could benefit from increased liquidity but may also face regulatory pressures.

▪ **Globalization of the Dollar**: 99% of stablecoins are pegged to the USD, reinforcing its hegemony.

### ⚠️ **Next Steps**

- The law must pass through the **House of Representatives**, where amendments regarding conflicts of interest could be added.

- Trump demands its approval before the **August recess**.

#GENIUSActPass #Stablecoins #CryptoRegulation

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✅ **Verification: 120 words** – Clear language, key data, and balance between benefits and criticisms. **Do you think this law is a step forward or a risk? Comment!** 👇