#StablecoinLaw Law Passed by US Congress Brings New Framework for Cryptocurrency
The US House of Representatives has approved the GENIUS Act, a stablecoin bill. It is now awaiting the President's signature.
📌 This law legally defines stablecoins for the first time in the US.
📌 Federal licensing and reserve requirements are being introduced.
Key provisions:
– Stablecoins must be backed by 100% cash or Treasury securities
– Cannot be issued without federal licensing
– Can be integrated into retirement systems like 401(k)s
– High transparency and regular reporting requirements will be mandated
