The United States Senate has passed the (GENIUS ACT) law, which is considered a historic achievement and a strong boost for the cryptocurrency market.

This legislation aims for comprehensive regulation of stablecoin markets linked to the US dollar, leading to robust protection for cryptocurrency users, as well as combating money laundering.

It opens the door for innovation and permits banks and technology companies to issue their own stable digital currencies, as well as major retailers.

This results in increased issuance and usage of digital currencies, enhancing trust in them and giving a strong boost to the global cryptocurrency market.

There is a significant impact of this law on the US economy, as it will bolster the position of the US dollar as a global reserve currency.

Ultimately, the law will be sent to the US House of Representatives to reach an agreement with other laws that may not be compatible with it, before the law is adopted and implemented.