#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.
š This law legally defines stablecoins for the first time in the US.
š Federal licensing and reserve requirements are being introduced.
Key provisions:
ā Stablecoins must be backed by 100% cash or Treasury securities
ā Cannot be issued without federal licensing
ā Can be integrated into retirement systems like 401(k)s
ā High transparency and regular reporting requirements will be