#GENIUSActPass historical movement, the U.S. Senate has passed the GENIUS Act — the first major federal legislation aimed at regulating stablecoins — with strong bipartisan support in a vote of 68–30. The bill introduces strict requirements for stablecoin issuers such as Circle and Tether, including full 1:1 reserve backing, monthly financial disclosures, and mandatory licensing at the federal or state level. Designed to increase transparency, curb financial crimes, and block unregulated foreign stablecoins, the law addresses growing concerns about the risks that stablecoins pose to the U.S. financial system, including pressure on Treasury markets. Following the vote, Circle's shares rose by 16%, reflecting investors' confidence in regulatory clarity. The legislation now moves to the House, where it could be combined with broader reforms on cryptocurrencies — a significant step towards establishing a legal framework for stablecoins and reinforcing U.S. leadership in cryptocurrency regulation.