#GENIUSActPass Crypto regulation just reached a turning point with the U.S. Senate’s passage of the GENIUS Act—a landmark bill that would mandate 1:1 backing of stablecoins with cash or short-term Treasurys, enforce monthly audits, and extend AML oversight . This framework brings legitimacy to stablecoins like USDC and stands to lower yields on short-term government debt as issuers flood the market with Treasurys . Circle and Coinbase stocks surged—Circle is up 34%, Coinbase jumped nearly 17%—signaling investor confidence . Critics, including Sen. Warren, warn the bill doesn't fully address risks like Treasury market stress or conflicts involving Trump’s crypto interests . As the bill heads to the House, it sets the stage for stablecoins becoming a functioning pillar of the financial system—if safeguards survive the final legislative round.