GENIUS Act: A Major Step Forward for U.S. Stablecoin Regulation

The U.S. Senate has taken a significant step towards regulating stablecoins with the introduction of the GENIUS Act. This bipartisan legislation, spearheaded by Senators Hagerty and Warner, seeks to establish comprehensive regulations for both fiat-backed and decentralized stablecoins nationwide. The act aims to ensure responsible innovation in the digital asset space while promoting transparency within the financial sector.