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The GENIUS Act has passed the House of Representatives in a historic vote of 308-122, marking a significant shift in the regulatory landscape for stablecoins.
In a major victory for the cryptocurrency sector, the bill introducing strict reserve requirements and transparency measures for stablecoin issuers is expected to be signed into law by President Trump. The move could redefine the role of stablecoins in the U.S. economy and supercharge its crypto industry.
The bipartisan legislation, which has garnered widespread support from stakeholders across the digital currency space, will now head to the White House where it is likely to receive presidential approval. This development comes at a critical juncture for the U.S. Congress, as it seeks to establish the country as a global leader in cryptocurrency innovation and adoption.
The bill’s passage marks a dramatic change of tone from the previous administration’s cautionary stance on crypto regulation, which had previously generated controversy within the industry.
Source: www.cryptoninjas.net
