In a landmark move, the U.S. Senate has passed the GENIUS Act with a 66-32 vote, marking the nation’s first comprehensive legislation aimed at regulating stablecoins. This bipartisan bill mandates that stablecoin issuers maintain reserves in safe, liquid assets like Treasury bills, comply with anti-money laundering and anti-terrorism finance laws, and prioritize coin holders in bankruptcy proceedings. The legislation aims to establish a legal framework for stablecoin issuance, ensure transparency, and protect consumers, while fostering innovation in the crypto sector.