$USDC GENIUS Act Receives Bipartisan Support in the Senate

The U.S. Senate has approved the GENIUS Act, the first major cryptocurrency initiative, with 68 votes in favor and 30 votes against. The bill has now been sent to the House of Representatives.

👉 This document proposes strict regulations on stablecoins, including full backing of tokens by the U.S. dollar or short-term government bonds, annual audits, and transparency requirements.

The bill is supported by the Department of Treasury and industry representatives, as it promises to strengthen the dollar's position in the digital economy and attract investment.