#GENIUSActPass
The GENIUS Act, short for *Guiding and Establishing National Innovation for U.S. Stablecoins*, was officially passed by the U.S. Senate with a 68–30 vote 🎉. It marks the first major federal legislation to regulate stablecoins—digital currencies pegged to assets like the U.S. dollar.
🪙 The act requires stablecoin issuers to hold full reserves in cash or short-term Treasury bills, publish monthly audits, and comply with anti-money laundering rules. It opens the door for banks, fintechs, and even retailers to issue their own stablecoins under federal oversight.
💼 While the bill is seen as a win for innovation and consumer protection, it sparked controversy for exempting the president from conflict-of-interest rules—especially amid scrutiny of Trump’s crypto holdings.
🚀 The GENIUS Act could reshape how digital dollars are used in payments, finance, and beyond. Let me know if you want a breakdown of how this might affect crypto markets or stablecoin adoption!