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U.S. Senate Moves Forward with GENIUS Act to Regulate Stablecoins
U.S. Senate Moves Forward with GENIUS Act to Regulate Stablecoins
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The U.S. Senate has advanced the GENIUS Act, marking a pivotal step toward establishing a federal regulatory framework for stablecoins. The legislation, officially titled the Guiding and Establishing National Innovation for U.S. Stablecoins Act, cleared a filibuster with a 66-32 vote, signaling bipartisan support.
Co-sponsored by Senators Kirsten Gillibrand (D-NY) and Bill Hagerty (R-TN), the act aims to enhance consumer protections and address national security concerns tied to digital assets. Its progress reflects growing institutional recognition of stablecoins’ role in the financial ecosystem.
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