🇺🇸 The U.S. Senate has just passed Bill #GENIUS by a vote of 68 to 30!
Bill S.1582 now moves to the House of Representatives, with the potential to become the most significant regulatory framework for the stablecoin sector in the United States. 📊
The GENIUS Act outlines clear rules for stablecoin issuers and requires:
• 1:1 dollar reserves
• Monthly transparency regarding held assets
• Regular audits by accredited institutions
Furthermore, the text requires foreign issuers, such as #Tether , to adhere to regulatory standards similar to those in the United States to operate in the country.
Notably, the scope of regulation is expanding. The bill extends compliance obligations (AML/KYC) to include self-custody wallets, developers, and auditors, which could lead to a profound restructuring of the DeFi landscape. 🌐
🧭 After this approval in the Senate (06/17/2025), the bill will be analyzed in the chamber. If approved there, the text will go to the president for approval, and only then can it become law.
The matter is not yet finalized, but this breakthrough indicates a new era for the cryptocurrency system under U.S. jurisdiction. What do you think, should this bill become law and serve as an example for other countries? Leave your opinion in the comments
