The American GENIUS Act for Regulating Stablecoins:

- Initial approval from the Senate with a vote of 66-32**, paving the way for the final vote next week.

- Key provisions of the law:

1. Tying stablecoins to liquid assets (such as the dollar or treasury bonds) to ensure stability and protect consumers.

2. Preventing tech giants (Meta, Apple, Amazon) from issuing stablecoins except under strict standards.

3. Imposing strict oversight on foreign issuers (such as Tether) to align their activities with U.S. standards.

4. Banning the payment of yields or interest on regulated stablecoins.

5. Political controversy regarding President Trump's connection to the USD1 stablecoin, with criticisms of "fostering corruption".

- Potential impacts:

- Strengthening the dominance of the U.S. dollar in the global financial system.

- Restricting the ambitions of technology companies in the digital payments sector.