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The #LeyGENIUS a key step for the future of stablecoins July 4–5 of this year. In a memorable ceremony in mid-June, the United States Senate approved the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), with a vote of 68 to 30, before moving on to the House of Representatives. What does the law establish? It creates the first federal regulatory framework for payment stablecoins, requiring issuers to maintain 1:1 reserves in dollars or liquid assets. It allows for a choice between federal or state regulation (for issuers with less than $10 billion) It prioritizes stablecoin creditors in bankruptcy proceedings. With bipartisan support, it received backing from 18 Democrats and all Republican senators, indicating a consensus in favor of establishing clear rules for the crypto sector. President Trump signed the law after its approval by the House, becoming the most significant regulation for stablecoins to date. He describes himself as “the first crypto president of the U.S.,” pushing for legislation that, according to its supporters, will enhance innovation, consumer protection, and the country’s financial leadership. Notable criticisms: The law does not regulate the president or his family, raising concerns about potential conflicts of interest, especially given Trump's involvement with World Liberty Financial and its stablecoin USD1. Senator Elizabeth Warren and several Democrats questioned the norm's failure to address these gaps and warned about corruption risks. 🧾 Conclusion The GENIUS Act represents a regulatory milestone aimed at providing legitimacy and security to the emerging stablecoin market, balancing innovation and financial protection. However, questions about potential conflicts of interest and regulatory omissions keep the controversy alive. Now, its implementation and oversight will be key to ensuring trust in this financial technology. $USD1 $USDC
5k would help me more now that I will be a father of 2 beautiful babies!! twins I don't know yet. But what I do know is that I will continue investing in the best projects in this industry.
Ame_Lia
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Bullish
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