CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Bitcoinist 2025-06-17 22:33:44

BREAKING: Senate Passes Historic Stablecoin Bill, Marking Major Win For Crypto

On Tuesday, the Senate achieved a significant milestone in cryptocurrency regulation by passing the GENIUS Act, a landmark bill that sets the first federal standards for stablecoins. The legislation, which secured a 68-30 vote, creates a regulated pathway for private companies to issue digital dollars under the federal government’s oversight. New Era For Stablecoin Regulation In The US The GENIUS Act is the first major legislative victory for the digital asset sector, which invested approximately $250 million in the 2024 election cycle to support what is now regarded as the most pro-crypto Congress in US history. While the bill has successfully passed the Senate, it faces challenges in the Republican-controlled House, where another version of a stablecoin bill, known as STABLE, is under consideration. Despite these hurdles, the Senate’s approval signals a turning point not only for the technology itself but also for the political influence surrounding it. The GENIUS Act, officially titled the Guiding and Establishing National Innovation for US Stablecoins Act, introduces essential guardrails for the stablecoin industry. Among its provisions are requirements for full reserve backing, monthly audits, and compliance with anti-money laundering regulations. The act also opens doors for a wider array of issuers, including banks, fintech companies, and major retailers, to launch their own stablecoins or integrate them into existing payment systems. Bipartisan Support Crucial Treasury Secretary Scott Bessent, who will have significant regulatory authority under the bill, indicated during a recent Senate appropriations hearing that the US stablecoin market could potentially grow nearly eightfold, reaching over $2 trillion in the coming years. Initially, the GENIUS Act was expected to be one of the easier crypto bills to pass, but it has faced considerable delays and difficulties, including a previous failure to reach the Senate floor. Senator Cynthia Lummis of Wyoming expressed her surprise at the challenges encountered, stating, “I had no idea how hard this was going to be.” Senator Bill Hagerty from Tennessee echoed this sentiment, highlighting the complexity of garnering bipartisan support, particularly from the 18 Senate Democrats who ultimately voted in favor of the bill. Featured image from DALL-E, chart from TradingView.com

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta