<ul data-eligibleForWebStory="true"><li>The U.S. Senate passed the GENIUS Act (S. 394) by a 68-30 vote, providing a federal framework for stablecoins.</li><li>Introduced by Senator Bill Hagerty, the bipartisan bill requires 1:1 dollar reserves for stablecoins.</li><li>The bill aims to regulate stablecoins, requiring disclosures, audits, and licensing while prohibiting algorithmic coins.</li><li>It amends securities laws to clarify that compliant stablecoins are not under SEC jurisdiction.</li><li>Bitcoin proponents view the GENIUS Act as foundational, as stablecoins are seen as bridges into Bitcoin.</li><li>Legitimizing stablecoin infrastructure indirectly strengthens Bitcoin's operational framework.</li><li>The bill opens doors for easier Bitcoin access, settlements, and institutional adoption.</li><li>David Sacks, President Trump's AI & Crypto Czar, lauded the GENIUS Act for regulatory clarity and enhancing consumer protection.</li><li>The passage signals U.S. readiness for a stablecoin and Bitcoin-focused future.</li></ul>

U.S. Senate Passes Stablecoin Bill The GENIUS Act

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