#GENIUSActPass GENIUSActPass #GENIUSActPass

The Senate has adopted the "GENIUS" law by a majority of 68 votes to 30, representing a significant step forward in the regulation of stablecoins¹². This law aims to establish the first comprehensive federal framework to regulate stablecoins in the United States.

The "GENIUS" law requires that stablecoins be fully backed by the US dollar or its equivalent in liquid assets, with an annual audit mandatory for issuers whose market capitalization exceeds 50 billion dollars². Additionally, the law imposes stricter rules for stablecoins issued abroad and prohibits yield-bearing stablecoins that could compete with traditional deposits³.