#GENIUSActPass

Trump Crypto Czar, David Sacks Calls GENIUS Act Passage a Landmark Moment for Stablecoin Regulation.

On Monday, June 17, the U.S. Senate passed the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a crucial step in regulating payment stablecoins.

This landmark legislation provides a comprehensive framework for using and issuing stablecoins. The GENIUS Act now heads to the House of Representatives for further consideration, where it could move closer to becoming law.

Speaking on X, David Sacks, the White House AI and Crypto Czar, expressed his enthusiasm for the passage of the stablecoin bill. He highlighted its potential to enhance the global dominance of the U.S. dollar and protect consumers.

Sacks commended the U.S. Senate’s bipartisan efforts and called the bill a step forward in creating regulatory clarity for the stablecoin sector.