💣💣💣 The GENIUS Act was approved with broad bipartisan support (House of Representatives: 308-122, Senate: 68-30), and now awaits presidential signature.
This historic framework establishes clear guidelines for stablecoin issuers in the United States after years of regulatory uncertainty.
Complete Details Key Provisions:
• Requirements for Issuers: Only state or federally regulated entities are authorized
• Reserve Mandates: Strictly backed 1:1 with liquid assets
• Consumer Protections: Priority reimbursement during bankruptcies
• Yield Restriction: Stablecoins with yield are effectively prohibited
Market Impact only around 15% of existing stablecoins meet compliance standards, likely triggering consolidation.
