In a historic move, the U.S. Congress has passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) with a decisive 308-122 vote. This landmark bill sets clear standards for stablecoins—digital currencies pegged to fiat money—and is expected to be signed into law soon by U.S. President Donald Trump, marking a breakthrough as the first federal regulation for stablecoins.
But that's not all! The House also approved the Digital Asset Market Clarity Act, which aims to establish rules for crypto exchanges, brokers, and issuers, and the Anti-CBDC Surveillance State Act, designed to ban central-bank digital currencies. While these two acts still await the Senate's approval, they signal a robust effort to bring greater clarity and innovation to the digital asset market.
This legislative surge is sparking excitement among young investors, crypto enthusiasts, and digital finance professionals, promising a future where emerging technologies and clear regulations go hand in hand. Stay tuned for more updates as these laws shape the evolving landscape of digital finance! 🚀
Reference(s):
cgtn.com
