🚨 Congress paves the way for the passage of the GENIUS Act to regulate stablecoins!
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🏛️ What just happened:
– The U.S. House of Representatives has officially gained the majority needed to pass the GENIUS Act
– The law regulates the issuance of stablecoins and sets requirements for reserves, disclosure, and registration
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📦 Voting details:
– Final vote: 308-122
– Broad bipartisan support: 206 Republicans and 102 Democrats
– The law now moves to President Trump's desk for final signature
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💡 Why does it matter?
– It is the first comprehensive federal law to regulate stablecoins in the United States
– Provides a legal framework for institutional growth in the crypto sector
– Paves the way for banks and companies to expand the use of dollar-backed digital currencies
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❓Do you think Trump's signature on the law will trigger a new wave of adoption for stablecoins?
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