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U.S. Senate Faces Final Chance to Pass GENIUS Act for Stablecoin Regulation
U.S. Senate Faces Final Chance to Pass GENIUS Act for Stablecoin Regulation
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The U.S. Senate is under mounting pressure to pass the GENIUS Act, a bipartisan bill introduced by Senator Bill Hagerty in February 2025, aimed at establishing clear regulatory frameworks for stablecoins. The legislation mandates stablecoin issuers to maintain cash or SAFE asset reserves, provide monthly transparency reports, and imposes criminal penalties for misrepresentation.
Stablecoins, digital currencies pegged to real-world assets like the U.S. dollar, have grown in prominence but remain largely unregulated. The GENIUS Act seeks to address this gap, ensuring consumer protection and financial stability. Failure to pass the bill could delay critical oversight in an increasingly crypto-driven economy.
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