#GENIUSActPass GENIUS Act: The law that could change stablecoins forever ๐Ÿšจ

๐Ÿ“† Approved with 68 votes in favor vs 30 against, the U.S. Senate gives the green light to the GENIUS Act, the first federal legal framework for stablecoins.

๐Ÿงพ What changes?

๐Ÿฆ Only regulated issuers (like banks) will be able to issue USD-backed stablecoins.

๐Ÿ’ฐ 100% liquid and auditable reserves (Treasury bonds, cash).

โœ… Opens the door to bank and tech stablecoins: are $GOOGUSD or $METAUSD coming?

โš ๏ธ Controversy:

โŒ The bill exempts Trump and his family from restrictions on investments in crypto.

๐Ÿ˜ก Warren and progressives denounce lack of transparency and conflict of interest.

๐Ÿค There is talk of merging it with the CLARITY Act, which could delay its final implementation.

๐ŸŒ What does this mean for the market?

๐Ÿ“‰ It could change the current leadership of USDT and USDC.

๐Ÿ’ฅ Big banks and tech companies could launch their own legally backed stablecoins.

๐Ÿ”“ Opens the door to mainstream adoption of regulated digital currencies.