The bill to regulate stablecoins in the United States, known as the "GENIUS Act," is witnessing significant progress towards establishing a comprehensive regulatory framework for this vital sector. After the Senate Banking Committee approved it by a majority of 18 votes to 6, the bill is expected to be presented soon to the full council for final approval.

The law aims to enhance transparency and financial stability by requiring stablecoin issuers to maintain cash reserves at a 1:1 ratio, publish monthly liquidity reports, and comply strictly with anti-money laundering laws. It also allows smaller issuers to be subject to state-level oversight, while larger ones are under federal supervision, striking a balance between innovation and regulatory oversight.

Despite some partisan disagreements, this progress is considered a positive step towards strengthening the position of the U.S. dollar in the global digital economy. As discussions continue, the law is expected to contribute to enhancing trust and stability in the digital currency market, opening new horizons for innovation and growth in this evolving field.