#稳定币GENIUS法案新进展  US Senate Passes GENIUS Act Stablecoin Bill

The GENIUS Act has passed the Senate. New stablecoin regulations are coming with bipartisan support.

The bill would require stablecoin issuers to purchase US Treasury bonds. This would give them influence over global finance.

Democratic opposition, particularly from several Senators, did not stop the bill from advancing.

The Senate has voted to pass the GENIUS Act, which will become law. It will have major implications for U.S. cryptocurrency regulation and create a new framework for stablecoins.

Several Democrats voiced their opposition to the Act, but it passed with strong bipartisan support.

GENIUS Act Will Be Enacted

Stablecoin regulation is currently a hot topic in the cryptocurrency industry, and the GENIUS Act represents a major breakthrough for innovation.

After months of debate and failed votes, a series of new amendments and bipartisan support have brought it to fruition. Now, it will only need President Trump’s signature to go into effect.

Several major institutions have already anticipated this move and are preparing accordingly, with both JPMorgan and Bank of America announcing plans to launch their own stablecoins soon.

The GENIUS Act would impose new restrictions on stablecoin issuers, requiring them to purchase large amounts of U.S. Treasury bonds.

The requirement has pushed Tether to buy more Treasury bonds than most states, potentially giving stablecoins new influence in global finance. President Trump is considering giving the sector a role in dollar dominance by making big plans.

Several Democratic senators have strongly opposed the GENIUS Act, seeing it as a way for Trump to continue his crypto corruption campaign. Critics have also noted that it could complicate bankruptcy proceedings.

Under Section 9 of the act, stablecoin holders gain priority over other creditors in the event of an issuer’s bankruptcy. This could create serious problems if banks or large corporations start issuing stablecoins.

Overall, the party supported the legislation. Several Democrats, like Senator Kirsten Gillibrand, supported the crypto industry while condemning the President’s investment, which could be adopted by other lawmakers.

In any case, a new chapter has been opened in U.S. crypto regulation. The industry made a big push to pass the GENIUS Act, and that effort paid off. Hopefully, this bipartisan coalition can deliver victories in the future.