#GENIUSAct

Adoption of the Genius Act: A Revolution for Stablecoins

On May 19th, the US Senate adopted the Genius Act, legislation aimed at regulating the stablecoin market, valued at $250 billion. This framework requires issuers to hold reserves in safe assets and ensure compliance with anti-money laundering regulations, while limiting the issuance of stablecoins by large companies without special approval.

The bill has sparked controversy, including criticism from Senator Elizabeth Warren regarding Donald Trump's ties to the crypto industry. Its adoption is seen as a major step forward for the crypto industry, paving the way for regulatory recognition and potential growth in the stablecoin market, estimated at $2 trillion by 2028, while raising concerns about financial stability and competition with central bank digital currencies.