#GENIUSAct
I will explain the legislation signed for this Law:
☄️☄️What exactly is the GENIUS Law?☄️☄️
✅✅The GENIUS Law is the first federal legislation in the United States that clearly establishes how stablecoins should be issued, backed, and regulated.✅✅
🎉🎉How does the GENIUS law work and how is it applied?🎉🎉
🔰🔰From now on, only authorized banks, federally licensed fintech companies, and regulated entities can issue stablecoins 🔰
🔰🔰Additionally, each stablecoin must be backed by dollars or secure assets, in exact proportion 🔰🔰
