#GENIUSAct **US Senate Takes First Step for Stablecoin Regulation**

The US Senate has approved the **GENIUS Act** through a procedural vote, marking a significant turning point in the digital asset world. The law aims to maintain financial stability and regulate the digital currency ecosystem by introducing **comprehensive rules for stablecoins**.

According to the new regulation, **stablecoins must be fully backed by liquid assets** and undergo regular audits. Additionally, **strict identity verification rules** will be enforced, and **the use of financial user data for commercial purposes will be prohibited**. Notably, increasing control over large tech companies is one of the most striking provisions of the law.

Moreover, the law grants the **US Department of the Treasury the authority to regulate international stablecoins**, enabling the global control of digital dollar flows. Experts indicate that this could **affect financial balances on a global scale** and that companies issuing large stablecoins will have to comply with the US market.

All eyes are now on the final vote. **Will the law be accepted with amendments or as it is?** The critical process for the crypto ecosystem continues.