#StablecoinLaw
Law Passed by US Congress Brings New Framework for Cryptocurrency
The US House of Representatives has approved the GENIUS Act, a stable coin bill. It is now awaiting the President's signature.
This law legally defines stable coins for the first time in the US.
Federal licensing and reserve requirements are being introduced.
Key provisions:
– Stable coins must be backed by 100% cash or Treasury securities
– Cannot be issued without federal licensing
– Can be integrated into retirement systems like 401(k)s
– High transparency and regular reporting requirements will be mandated
This step could signal a new era for D E F I, payment systems, and institutional investments.
However, it also brings with it discussions about “centralization.”