Senator Bill Hagerty introduced the GENIUS Act to create a regulatory framework for stablecoins, aiming to provide clear guidelines as the digital asset market grows.
The act establishes regulations for stablecoin issuers, defining stablecoins as digital assets linked to the U.S. Dollar, and mandates compliance for those with assets over 10 billion USD.
The GENIUS Act has bipartisan backing and emphasizes the importance of stablecoins in fostering financial innovation and promoting the U.S. Dollar’s global dominance.
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