#USStablecoinBill The US Senate Banking Committee has passed the bipartisan Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, marking a significant step towards federal regulation of stablecoins. The bill, co-sponsored by Senators Bill Hagerty, Tim Scott, and Cynthia Lummis, offers US stablecoin issuers a choice between state or federal supervision. Key provisions include ¹:

- *Reserve Requirements*: Maintaining 1:1 reserves backed by cash, short-term US Treasury bills, or central bank reserves.

- *Regulatory Framework*: Clear rules for stablecoin issuers, including anti-money laundering compliance and consumer protection.

- *Next Steps*: The bill will head to the Senate floor for a vote, then to the House of Representatives for reconciliation with the STABLE Act.