The United States Senate has officially approved the GENIUS Act, a revolutionary law aimed at establishing a clear and secure regulatory framework for stablecoins, financial assets closely tied to the value of the dollar. This bipartisan decision marks a crucial step for the evolution of digital finance and paves the way for a future in which stablecoins and Bitcoin play a central role in the global economic system.
The GENIUS Act: a federal framework for stablecoins
The law named Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act), identified with the number S. 394, was approved with a vote of 68 in favor and 30 against. Its approval establishes the first comprehensive federal regulatory system for stablecoins backed by fiat currency. This legislation represents a milestone for digital finance in the United States.
The bill was introduced by Senator Bill Hagerty and was co-signed by four other senators: Tim Scott, Kirsten Gillibrand, and Cynthia
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