Senate Unveils New Plan to Regulate Stablecoins

The U.S. Senate has proposed a sweeping reform of stablecoin regulations through the GENIUS Act, aiming to bring international stablecoin issuers under American oversight. This draft legislation seeks to integrate companies like Tether, which operate outside U.S. jurisdiction, into existing regulatory frameworks. The bill represents a potential turning point for stablecoins and similar entities, pushing them towards greater transparency and compliance with American standards.