📰 Major News: U.S. Senate Approves Landmark Stablecoin Regulation
The U.S. Senate passed the GENIUS Act on June 18, 2025, by a strong bipartisan vote of 68–30 . This legislation establishes the first federal framework for stablecoins, mandating:
Full-reserve backing by liquid assets (USD, U.S. Treasuries)
Monthly reserve disclosures
Annual audits for large issuers (above $50 billion market cap)
It aims to position stablecoins as a reliable payment option while ensuring consumer protection and financial market stability .
Why it matters:
Mainstream adoption push: Boosts legitimacy of coins like USDC and USDT; major players (Meta, Walmart, Visa, Mastercard) are gearing up stablecoin support .
Big win for over-the-counter crypto trading and infrastructure: Coinbase stock surged ~16% on the news as it unveiled new USDC payment tech .
Broader ripple effects:
Could shift demand toward U.S. Treasuries, affecting interest rates and government debt yields .
Sets stage for further crypto lawmaking—potentially shaping the SEC’s role .
Next stop: the House, where the bill is expected to advance before July.
