Senate Passes GENIUS Act – Stablecoin Regulation Breakthrough
The U.S. Senate passed the GENIUS Act with strong bipartisan support (63–30). It mandates that stablecoin issuers back tokens fully with liquid assets, undergo monthly reserve disclosures, and face annual audits for large issuers. In a bankruptcy scenario, stablecoin holders get priority claims.
Why it matters:
Raises confidence in stablecoins like USDC/USDT
Opens the door for banks and retailers (Meta, Walmart, Visa) to adopt crypto
May push greater demand for Treasuries (impacting rates) #MyTradingStyle #GENIUSActPass #USDC
