Senator Bill Hagerty Introduces the GENIUS Bill 🌐
A new bill regulating stablecoins is gaining momentum in the U.S. — #GENIUS . Its goal is to create clear rules for the market and ensure transparency.
🔹 The document defines what payment stablecoins are.
🔹 Issuers with a market capitalization of over $10 billion will fall under the supervision of the Federal Reserve.
🔹 Companies will be required to publish monthly audit reports on their reserves.
Co-authors of the bill include Senators Kirsten Gillibrand, Tim Scott, and Cynthia Lummis. The document is expected to pass through committee discussions quickly 💼.
Stay tuned for updates!
