#GENIUSActPass

The U.S. Senate has just passed the GENIUS Act, a bipartisan bill establishing the first federal regulatory framework for payment stablecoins, with a strong 68–30 vote.

It mandates 1:1 asset backing, monthly reserve disclosures, AML compliance, and restricts issuance to approved entities—banks and non‑bank issuers—while enabling foreign stablecoins to enter the U.S. market.

Backers say it brings much‑needed clarity and consumer protection; critics warn of potential conflicts related to Trump‑linked crypto interests and demand tighter safeguards.

Next stop: the House, where it must align with the STABLE Act before heading to the President.