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GENIUS Act Nears Final Approval For U.S. Stablecoin Regulation
In a groundbreaking move, the United States Congress has formally approved the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), paving the way for a new era of regulatory certainty in digital finance. With bipartisan support in both the House and Senate, the bill now awaits the President’s signature to become law.
This landmark legislation marks a significant shift in how the United States approaches the regulation of stablecoins, introducing a structured and enforceable framework for their issuance, backing, and supervision. The Act requires stablecoin issuers to fully back their tokens with reserves held in U.S. dollars or similarly secure, liquid assets, effectively ruling out algorithmic or insufficiently backed models.
As the digital asset space continues to evolve, this legislation could serve as a blueprint for other nations seeking to bring stability and trust to the crypto economy.
Source: zebpay.com
