#GENIUSActPass
The U.S. Senate passed the GENIUS Act on June 17, 2025, with a 68-30 bipartisan vote ๐ณ๏ธ, creating the first federal framework for regulating stablecoins ๐ต, dollar-backed cryptocurrencies. Now heading to the House ๐๏ธ, the bill protects consumers ๐ก๏ธ, ensures transparency ๐, and mandates full reserve backing for stablecoins. Supporters like Senator Bill Hagerty praise its boost to U.S. financial leadership ๐ and innovation ๐ก. Critics, including Senator Elizabeth Warren, caution about weak safeguards ๐จ against corruption. Despite debates on systemic risks โ๏ธ, the actโs passage is a key step toward mainstreaming stablecoins in the digital economy ๐.