The U.S. Senate passed the GENIUS Act with a vote of 51 to 23.
吴说Jun 17, 2025On June 17, the U.S. Senate passed the GENIUS Act with a vote of 51 to 23. This is the first significant cryptocurrency legislation to be approved, aiming to establish a federal regulatory framework for stablecoins.
The Act requires stablecoins to be fully backed by U.S. dollars or equivalent liquid assets. Issuers with a market capitalization exceeding 50 billion USD must undergo annual audits. It also stipulates priority payment provisions for foreign issuers and in cases of bankruptcy.
The next step is submission to the House of Representatives for review. The House must decide whether to advance its own version, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, or to adopt the Senate-passed GENIUS Act. (The Block)
The U.S. Senate passed the GENIUS Act with a vote of 51 to 23.
吴说Jun 17, 2025On June 17, the U.S. Senate passed the GENIUS Act with a vote of 51 to 23. This is the first significant cryptocurrency legislation to be approved, aiming to establish a federal regulatory framework for stablecoins.
The Act requires stablecoins to be fully backed by U.S. dollars or equivalent liquid assets. Issuers with a market capitalization exceeding 50 billion USD must undergo annual audits. It also stipulates priority payment provisions for foreign issuers and in cases of bankruptcy.
The next step is submission to the House of Representatives for review. The House must decide whether to advance its own version, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, or to adopt the Senate-passed GENIUS Act. (The Block)
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