U.S. Senate Advances GENIUS Stablecoin Act, Paving Way for New Crypto Regulations

The U.S. Senate has taken a significant step towards regulating the crypto industry by approving a procedural vote for the ‘GENIUS Stablecoin Act’. This groundbreaking bill marks the first federal crypto asset regulation in the US and paves the way for greater stability within the volatile cryptocurrency market. The act seeks to establish rules for stablecoins, which are cryptocurrencies pegged to traditional assets like the dollar, and could become a blueprint for similar regulations in other countries.