A Major Victory for the American Cryptocurrency Industry

After years of debate and discussion, the U.S. Senate has achieved a historic milestone by passing the GENIUS Act by a resounding majority of 68-30 votes, marking the first time comprehensive federal legislation has been passed to regulate stablecoins!

💎 What is the GENIUS Act?

GENIUS stands for "Guiding and Establishing National Innovation for U.S. Stablecoins," and it is the law that will change the face of the digital currency industry in America and around the world.

📊 Key features of the law:

🔹 Comprehensive regulatory framework: The first federal law regulating stablecoins pegged to the U.S. dollar

🔹 Strong consumer protection:

- Full reserve backing (100% reserve backing)

- Mandatory monthly audits

- Strict compliance with anti-money laundering laws

🔹 Opening the door to innovation: Allowing banks, fintech companies, and even major retailers to issue their own stablecoins