#GENIUSActPass GENIUS Act, which was just passed by the US Senate, is a significant step in the regulation of stablecoins like USDC, establishing a federal legal framework to ensure full reserves, routine audits, and consumer protection. Passed with bipartisan support (66-32), this legislation strengthens investor confidence and supports the dominance of the US dollar in the crypto market, although it is still awaiting discussion in the House of Representatives. However, criticism from some Democrats, including Senator Warren, highlights potential loopholes for conflicts of interest and weaker consumer protections. Overall, this is a milestone towards a clearer and more trustworthy crypto ecosystem, but implementation challenges and global competition remain.