The United States Senate has approved the GENIUS stablecoin legislation, moving it forward to the House of Representatives for a vote expected in three weeks. This bill outlines important regulations regarding the backing, auditing, and oversight of stablecoins.
The passage of the GENIUS stablecoin bill marks a significant step in the regulatory framework for digital currencies, aiming to enhance transparency and security in the cryptocurrency market.
Following this approval, attention now turns to the House, where lawmakers will consider the bill for final approval.
