#GENIUSActPass

The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, has passed a crucial vote in the US Senate.

- *Senate Vote*: The Senate voted 68-30 to invoke cloture, paving the way for a final vote on the bill, which aims to establish a regulatory framework for stablecoins.

- *Regulatory Framework*: The bill requires stablecoin issuers to maintain 1:1 backing with US dollars or highly liquid assets and undergo annual audits for issuers with over $50 billion in market capitalization.

- *Next Steps*: The bill will move to the House of Representatives, where it may be reconciled with the STABLE Act, and then sent to President Trump's desk for signature.

- *Impact*: The bill's passage could boost the crypto industry by providing clarity on stablecoin regulations.