#GENIUSActPass passed the GENIUS Act — the first major federal legislation aimed at regulating stablecoins — with strong bipartisan support in a 68–30 vote. 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 boost transparency, curb financial crimes, and block unregulated