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Nicki Sanders
@nicki
🚀 Big News: The GENIUS Act Just Passed the Senate Yesterday, the U.S. Senate passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) with a strong bipartisan vote: 68–30. This is the first federal legislation to directly regulate stablecoins, a major part of the digital asset ecosystem.
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Nicki Sanders
@nicki
📜 What the GENIUS Act Does: • Defines who can issue stablecoins, such as licensed banks, qualified fintechs, and approved state-chartered firms. • Requires full reserve backing to ensure every stablecoin is redeemable for cash or short-term Treasuries. • Mandates monthly disclosures of reserves and redemption practices for transparency. • Gives federal regulators oversight, enforcement powers, and the ability to shut down noncompliant issuers. • Allows foreign stablecoin issuers to operate in the U.S. under specific guidelines. • Restricts lawmakers and federal officials from issuing stablecoins themselves to prevent conflicts of interest.
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Nicki Sanders
@nicki
📈 Why This Matters: • Regulatory clarity finally arrives for stablecoins, giving developers and investors confidence to build. • Protects consumers through strong rules around solvency, audits, and transparency. • Encourages innovation by allowing both fintechs and banks to compete in digital payments. • Supports the U.S. dollar by tying stablecoin growth directly to it, rather than competing alternatives. • Boosts the crypto sector. For example, Circle’s stock rose significantly after the vote. 🏁 What’s Next: The bill heads to the House, where negotiations are expected around how it aligns with other proposals like the STABLE and CLARITY Acts. If a unified version emerges, it could be signed into law by President Trump this summer.
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Nicki Sanders
@nicki
💬 Why It Matters to Me The GENIUS Act is more than a crypto bill. It’s a turning point in how we approach the future of money, finance, and trust in digital systems. Clear, enforceable rules are what will allow the U.S. to lead in this space while protecting everyday users. What do you think this means for the future of fintech and payments?
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