Senate majority leader John Thune is expediting the GENIUS Act, a significant step in regulating stablecoins in the US. This bill has garnered bipartisan approval, but some experts are voicing concerns about its implications for the banking sector.
The GENIUS Act differs from the House’s STABLE Bill, particularly in how reserves can be managed. While both propose a $10 billion cap, the differences in handling algorithmic stablecoins could impact future regulations.
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