<ul><li>The U.S. Senate has advanced the GENIUS Act, a bill aimed at providing regulatory clarity for stablecoins in the United States.</li><li>The GENIUS Act establishes a national regulatory system for payment stablecoins, overseen by banking regulators instead of the SEC or CFTC.</li><li>Key provisions include restricting stablecoin issuance to insured banks, implementing AML provisions, and requiring compliance with American regulatory norms for overseas issuers.</li><li>The bill aims to balance regulation and innovation in the crypto market, but critics raise concerns about enforcement against foreign actors and potential exclusion of smaller startups.</li></ul>

U.S. Senate Advances GENIUS Act: A Game-Changer for Stablecoin Regulation

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