The approval of #GENIUSActPass represents a historic step towards regulating stablecoins in the United States. The Senate voted almost unanimously to approve this bill (vote 68–30), which aims to establish a federal legal framework that enhances transparency and ensures 100% backing in dollars or short-term Treasury bonds, in addition to an annual audit for issuers with a market control exceeding $50 billion.

Supporters believe that the law will protect consumers and make the United States a global hub for financial technology, while critics, such as Elizabeth Warren, point to gaps in addressing political conflicts of interest. The next stage will await a final vote in the Senate and then a presentation in the House of Representatives before reaching the President's desk.

With this move, American lawmakers are moving towards striking a balance between digital innovation and effective oversight to enhance trust in stablecoins.