GENIUS Act Could Cement US Dollar’s Dominance in Digital Economy

A pending Senate vote on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act may significantly boost the US dollar’s position within the evolving digital economy. The bill seeks to create clear regulations for stablecoin collateralization, mandating compliance with anti-money laundering (AML) laws. According to a May 29 report by Foresight Ventures, this legislation could solidify the US dollar as the leading currency in Web3.