Analysis: The GENIUS Act Will Require Stablecoin Issuers to Disclose Reserve Composition Monthly
The U.S. Senate on Tuesday passed the "Guiding and Establishing the National Innovation in U.S. Stablecoins Act" (GENIUS Act), creating a regulatory framework for dollar-pegged stablecoins. This milestone marks a new era for the digital asset industry. The bill received overwhelming bipartisan support, passing with 68 votes in favor and 30 against, with several Democratic senators joining the majority of Republicans to advance federal regulations. The bill has now been submitted to the Republican-controlled House of Representatives for review, and if approved, it will be sent to Trump for signing. Analysts believe that if enacted, the bill will require stablecoin issuers to back their tokens with liquid assets such as U.S. dollars and short-term Treasury securities, and to publicly disclose their reserve composition on a monthly basis. (Reuters)
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