#GENIUSActPass

U.S Senate Passes Crypto-Friendly 'GENIUS Act'

The Senate passed the GENIUS Act Tuesday, giving a boost to #StablecoinRevolution cryptocurrencies.

As their name suggests, stablecoins are meant to have unchanging value relative to the U.S. dollar, in contrast to more volatile cryptocurrencies like #bitcoin .

The bill requires companies issuing stablecoins to back their coins with safer assets like U.S. dollars or Treasurys.