#GENIUSActPass

Seneta pass crypto friendly Act. Here is the key point

The Senate passed the GENIUS Act Tuesday, giving a boost to stablecoin 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.

Critics including Elizabeth Warren said the bill does nothing to prevent someone from bribing the president with stablecoins: a concern because Trump and his family are heavily entangled in cryptocurrency.