The US Senate has passed the GENIUS Act, a bipartisan bill establishing a regulatory framework for stablecoins pegged to the US dollar. The 68-30 vote marks a significant step for the digital asset industry, potentially paving the way for greater mainstream adoption of these cryptocurrencies.
The bill requires further approval from the Republican-controlled House of Representatives before it can be presented to President Trump for his signature. If passed, it would create federal rules governing the issuance and operation of stablecoins, aiming to provide clarity and consumer protection within the rapidly evolving crypto landscape. This legislation represents a crucial step towards legitimizing stablecoins and integrating them further into the financial system.
