HISTORICAL! The "GENIUS Act" for Stablecoins is approved in the House and goes straight to #TRUMP
The First Major Crypto Framework in the U.S. is about to become Law!
In a landmark turn for the regulatory landscape of cryptocurrencies in the United States, the House of Representatives has approved the U.S. Stablecoin Innovation and Guidance Act #GENIUS with a vote of 308 to 122.
This bill, which specifically focuses on the regulation of stablecoins, is now headed directly to the president #DonaldTrump for his signature, marking a crucial step toward becoming the first significant crypto legislation in the country.
The approval of the #LeyGENIUS closely follows another significant action by the House of Representatives: the approval of the Digital Asset Market Clarity Act #Clarity
CLARITY aims to establish a comprehensive set of rules for cryptocurrency markets in general, while GENIUS focuses on the stablecoin segment.
Since the GENIUS Act had already been approved by the Senate (68 to 30), its passage through the House means it only needs the presidential signature to become law.
Once enacted, this law will allow regulators to begin establishing a clear framework for the conduct of stablecoin issuers. This field, currently dominated by assets like Tether's USDT and Circle's USDC, has garnered increasing interest from traditional financial institutions, including major Wall Street banks.
