#GENIUSActPass

The approval of the GENIUS Act in the Senate marks an important milestone for cryptocurrency regulation in the U.S. and aligns with Trump's promises to enact favorable regulations for the crypto sector.

Stablecoins are a type of cryptocurrency designed to maintain a constant value against traditional currencies, generally the dollar. They are primarily used to facilitate transactions with cryptocurrencies and their use has increased in recent years.

If approved, the GENIUS Act will require stablecoin issuers to back their coins with liquid assets such as the dollar and short-term Treasury bonds. Issuers will also need to publicly disclose the composition of their reserves each month.

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