<ul data-eligibleForWebStory="true"><li>The U.S. Senate advances the GENIUS Act, focusing on crypto regulation and stablecoins.</li><li>The GENIUS Act establishes a federal framework for stablecoins, specifying rules for issuers and protections for consumers.</li><li>Key highlights include only regulated entities issuing stablecoins, 1:1 backing by fiat or liquid assets, audits, compliance measures, and legal status.</li><li>The Act aims to instill institutional confidence, create a safer ecosystem, and boost adoption of stablecoins.</li><li>Implications extend to altcoins, global regulation, tokenized assets, DeFi, and Web3 applications.</li><li>The Senate's final vote on the Act is expected by June 13, followed by review in the House of Representatives and potentially signing by the President.</li><li>The Act could bring much-needed regulatory clarity and maturity to the crypto space.</li><li>The news covers the impact and significance of the GENIUS Act for the crypto industry and stablecoin market.</li></ul>

GENIUS Act Now in Play: A Turning Point for Crypto Regulation and Stablecoins?

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