The United States Senate is poised to vote on the GENIUS Act, aiming to establish regulations for stablecoins, both domestically and internationally. The bill, set for a June 17th vote, will likely impact the entire stablecoin market. A key aspect of this legislation mandates that issuers back their digital currencies with either US dollars or comparable liquid assets, ensuring stability and credibility within these financial projects. Further, large issuers (those exceeding $50 billion in valuation) will be required to undergo annual audits by independent bodies, promoting market transparency and trust. This legislation has garnered attention from President Donald Trump’s support for its swift passage before August. The Senate’s decision on the GENIUS Act represents a significant turning point for the stablecoin sector. Its implementation could significantly reshape financial compliance standards.