The U.S. Senate has approved the GENIUS Act, which is the first comprehensive regulatory framework for dollar-pegged stablecoins, marking a pivotal moment in the regulation of the digital asset sector. The law mandates that stablecoin issuers maintain liquid financial reserves such as cash and treasury bonds, along with monthly disclosures of those assets to ensure transparency and stability. The bill received broad bipartisan support, with 68 members in favor and 30 against, in a move that reflects a rare consensus on a highly sensitive issue. However, the law has sparked internal controversy due to what some Democrats consider loopholes related to conflicts of interest, particularly concerning the exemption of the president's position and their family from certain congressional restrictions. Questions have also been raised about the potential for increased influence of major tech companies through this legislation. The law is now headed to the House of Representatives, where it is expected to undergo further discussions and possibly amendments before reaching the president's desk. This regulatory framework is expected to transform the landscape of digital currencies, opening the door for broader adoption of stablecoins while maintaining financial security standards and user trust in the digital financial system.