US Edition
Ending the Era of Uncertainty: Congress Delivers for Crypto
UNITED STATES, JUL 14 – The GENIUS Act would require stablecoin issuers to back tokens with liquid assets and disclose reserves monthly, aiming to boost confidence and expand crypto adoption, with bipartisan Senate support.
- This week, a vote will take place in the U.S. House on the GENIUS Act, legislation aimed at establishing federal regulations for stablecoins.
- This bill follows last month’s Senate approval and comes amid the House also considering the CLARITY Act and the Anti-CBDC Surveillance State Act.
- The GENIUS Act requires stablecoin issuers to back tokens with liquid assets like US dollars and Treasury bills, while expanding banking regulators’ oversight.
- Gerald Gallagher of Sei Labs called GENIUS and CLARITY “game changers” providing investor security, and Jag Kooner expects sidelined capital to re-enter the market.
- If passed, the legislation would mark a milestone for crypto legitimacy, likely reaching President Trump’s desk, who has pledged to sign it into law.
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88 Articles
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