#GENIUSActPass The "GENIUS Act," formally known as the "Guiding and Establishing National Innovation for US Stablecoins" Act, was recently passed by the US Senate. This landmark bipartisan bill aims to regulate stablecoins, a type of cryptocurrency pegged to traditional assets like the US dollar. Key provisions include requiring 1:1 reserve backing with liquid assets, mandating public reserve disclosures, and establishing stringent anti-money laundering norms. It seeks to bring stability and oversight to the rapidly growing stablecoin market, providing a clearer regulatory framework for issuers and fostering innovation in the digital asset space. The bill now moves to the House for further consideration.