U.S. lawmakers are proposing revisions to the GENIUS Act, aiming to provide regulatory clarity for dollar-backed stablecoins within the country.
Negotiations for the GENIUS Act are ongoing, with Democrats seeking amendments around consumer protection, bankruptcy, and financial controls for stablecoin issuers.
The revised GENIUS Act includes provisions for consumer protection laws, bans on promoting yield features, and restrictions on certain companies issuing stablecoins.
The bill could redefine the future of finance in America by addressing stablecoin market regulations and balancing innovation with oversight.