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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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