The U.S. Senate just passed the GENIUS Act, a landmark stablecoin regulatory bill, with 68 votes in favor and 30 against. It now heads to the House for final review.

🔍 What’s in the bill?

✅ Mandatory 1:1 reserve backing for stablecoins

✅ Strong consumer protection clauses

✅ Anti-money laundering (AML) and compliance frameworks

❌ But no ban on the President or his family profiting from stablecoin issuance

Democrats are calling out the bill's loophole, especially amid rising concerns that Trump’s family could financially benefit from issuing stablecoins if he returns to power.

⚖️ Regulation is coming fast—but this vote just shows how deep politics now runs in crypto.